Safe Bulkers Target of Unusually Large Options Trading (NYSE:SB)

Safe Bulkers, Inc. (NYSE:SB - Get Free Report) was the recipient of some unusual options trading on Tuesday. Investors purchased 3,562 put options on the stock. This represents an increase of 247% compared to the typical volume of 1,026 put options.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised shares of Safe Bulkers from a "hold" rating to a "buy" rating and upped their price objective for the company from $4.00 to $6.00 in a research report on Tuesday, February 27th.

Safe Bulkers Stock Performance

NYSE SB remained flat at $4.73 during trading hours on Tuesday. 318,082 shares of the company's stock were exchanged, compared to its average volume of 878,776. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.63. The company has a 50 day moving average of $4.69 and a 200-day moving average of $4.02. Safe Bulkers has a 1 year low of $2.97 and a 1 year high of $5.15. The company has a market cap of $527.92 million, a PE ratio of 7.58 and a beta of 1.02.

Safe Bulkers (NYSE:SB - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The shipping company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.10. The company had revenue of $82.29 million for the quarter, compared to analysts' expectations of $72.70 million. Safe Bulkers had a return on equity of 9.05% and a net margin of 27.20%. During the same quarter in the previous year, the company posted $0.29 earnings per share. As a group, equities analysts predict that Safe Bulkers will post 0.87 EPS for the current year.

Safe Bulkers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 1st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.23%. Safe Bulkers's dividend payout ratio (DPR) is presently 32.26%.

Institutional Investors Weigh In On Safe Bulkers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in shares of Safe Bulkers by 127.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,623 shares of the shipping company's stock valued at $25,000 after buying an additional 4,269 shares in the last quarter. Financial Advocates Investment Management bought a new position in shares of Safe Bulkers in the fourth quarter valued at $29,000. Price T Rowe Associates Inc. MD bought a new position in shares of Safe Bulkers in the third quarter valued at $31,000. Sigma Planning Corp purchased a new position in Safe Bulkers during the 3rd quarter worth approximately $37,000. Finally, Advisor Group Holdings Inc. grew its position in Safe Bulkers by 1,074.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,220 shares of the shipping company's stock worth $39,000 after purchasing an additional 7,520 shares in the last quarter. Institutional investors own 21.69% of the company's stock.

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.