Navellier & Associates Inc. Purchases Shares of 145,586 Safe Bulkers, Inc $SB

Navellier & Associates Inc. purchased a new stake in Safe Bulkers, Inc (NYSE:SB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 145,586 shares of the shipping company's stock, valued at approximately $919,000. Navellier & Associates Inc. owned 0.14% of Safe Bulkers as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Sei Investments Co. lifted its position in Safe Bulkers by 692.7% in the 1st quarter. Sei Investments Co. now owns 262,615 shares of the shipping company's stock valued at $1,662,000 after acquiring an additional 229,486 shares in the last quarter. Lazard Asset Management LLC bought a new position in Safe Bulkers during the 1st quarter worth about $1,625,000. Manatuck Hill Partners LLC bought a new position in Safe Bulkers during the 2nd quarter worth about $1,641,000. UBS Group AG raised its stake in shares of Safe Bulkers by 17.3% in the 4th quarter. UBS Group AG now owns 806,379 shares of the shipping company's stock valued at $3,887,000 after purchasing an additional 118,681 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Safe Bulkers in the 2nd quarter valued at about $5,690,000. Institutional investors own 21.69% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Safe Bulkers from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $6.00.

Safe Bulkers Trading Up 1.5%

Shares of NYSE:SB opened at $8.55 on Friday. The company's 50-day moving average price is $7.40 and its two-hundred day moving average price is $6.81. Safe Bulkers, Inc has a one year low of $4.14 and a one year high of $8.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $870.65 million, a PE ratio of 10.96 and a beta of 0.84.

Safe Bulkers (NYSE:SB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The shipping company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.06. The company had revenue of $87.47 million during the quarter, compared to analysts' expectations of $77.50 million. Safe Bulkers had a return on equity of 9.63% and a net margin of 28.29%.

Safe Bulkers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Thursday, August 13th were issued a dividend of $0.075 per share. The ex-dividend date was Thursday, August 13th. This is a positive change from Safe Bulkers's previous quarterly dividend of $0.06. This represents a $0.30 dividend on an annualized basis and a yield of 3.5%. Safe Bulkers's dividend payout ratio is presently 38.46%.

Safe Bulkers Company Profile

Safe Bulkers Inc NYSE: SB is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.

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