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 position in shares of Safe Bulkers, Inc (NYSE:SB - Free Report) by 48.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 approximately 0.29% of Safe Bulkers worth $1,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SB. Graham Capital Management L.P. bought a new position in shares of Safe Bulkers in the fourth quarter worth about $49,000. Foster Group Inc. acquired a new stake in Safe Bulkers in the 1st quarter valued at approximately $57,000. ProShare Advisors LLC increased its position in Safe Bulkers by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 17,008 shares of the shipping company's stock worth $61,000 after buying an additional 5,596 shares during the period. Mraz Amerine & Associates Inc. lifted its holdings in shares of Safe Bulkers by 23.6% during the first quarter. Mraz Amerine & Associates Inc. now owns 16,500 shares of the shipping company's stock worth $62,000 after buying an additional 3,155 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new position in shares of Safe Bulkers during the fourth quarter worth approximately $84,000. 21.69% of the stock is owned by institutional investors and hedge funds.

Safe Bulkers Stock Performance

Safe Bulkers stock traded up $0.0850 on Thursday, hitting $4.2150. The company's stock had a trading volume of 111,976 shares, compared to its average volume of 519,320. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average price of $3.99 and a 200-day moving average price of $3.74. Safe Bulkers, Inc has a one year low of $3.02 and a one year high of $5.24. The firm has a market cap of $431.28 million, a P/E ratio of 9.80 and a beta of 1.17.

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

Safe Bulkers Announces Dividend

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

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a "buy" rating and issued a $5.00 price objective 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, the company presently has a consensus rating of "Buy" and a consensus target price of $4.47.

About Safe Bulkers

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.