Connor Clark & Lunn Investment Management Ltd. Has $1.14 Million Holdings in Safe Bulkers, Inc $SB

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Safe Bulkers, Inc by 48.6%, now holding approximately 308,277 shares valued at $1,138,000.
• Safe Bulkers reported a quarterly earnings miss, with earnings per share of $0.01 compared to the expected $0.08, although revenue exceeded estimates at $65.75 million.
• The company announced a quarterly dividend of $0.05, representing an annualized yield of 4.7%, with an ex-dividend date of August 21st.

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Safe Bulkers, Inc (NYSE:SB - Free Report) by 48.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,277 shares of the shipping company's stock after selling 291,261 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.29% of Safe Bulkers worth $1,138,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Graham Capital Management L.P. acquired a new stake in Safe Bulkers in the 4th quarter valued at about $49,000. Foster Group Inc. acquired a new stake in Safe Bulkers in the 1st quarter valued at about $57,000. Mraz Amerine & Associates Inc. lifted its stake in Safe Bulkers by 23.6% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 16,500 shares of the shipping company's stock valued at $62,000 after purchasing an additional 3,155 shares during the last quarter. ProShare Advisors LLC lifted its stake in Safe Bulkers by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 17,008 shares of the shipping company's stock valued at $61,000 after purchasing an additional 5,596 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in Safe Bulkers in the 4th quarter valued at about $84,000. 21.69% of the stock is currently owned by institutional investors and hedge funds.

Safe Bulkers Stock Performance

SB stock traded up $0.0350 during mid-day trading on Thursday, hitting $4.2150. 360,341 shares of the company were exchanged, compared to its average volume of 408,729. The business has a 50 day simple moving average of $4.00 and a 200-day simple moving average of $3.75. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $431.28 million, a PE ratio of 9.80 and a beta of 1.17. Safe Bulkers, Inc has a 1-year low of $3.02 and a 1-year high of $5.24.

Safe Bulkers (NYSE:SB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.07). The company had revenue of $65.75 million for the quarter, compared to analyst estimates of $60.40 million. Safe Bulkers had a return on equity of 5.80% and a net margin of 19.25%. On average, equities analysts forecast that Safe Bulkers, Inc will post 0.62 earnings per share for the current year.

Safe Bulkers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.20 annualized dividend and a yield of 4.7%. Safe Bulkers's dividend payout ratio (DPR) is 46.51%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a "buy" rating and issued a $5.00 target price on shares of Safe Bulkers in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Safe Bulkers has an average rating of "Buy" and an average price target of $4.47.

Safe Bulkers Company Profile

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.