Safe Bulkers (NYSE:SB) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Safe Bulkers, Inc (NYSE:SB - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.46 and traded as high as $6.54. Safe Bulkers shares last traded at $6.5150, with a volume of 249,653 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Safe Bulkers in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Safe Bulkers has an average rating of "Hold" and an average price target of $6.00.

Safe Bulkers Price Performance

The business has a fifty day simple moving average of $6.34 and a two-hundred day simple moving average of $5.46. The company has a current ratio of 2.90, a quick ratio of 2.63 and a debt-to-equity ratio of 0.60. The stock has a market cap of $666.22 million, a PE ratio of 21.72 and a beta of 1.08.

Safe Bulkers (NYSE:SB - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The shipping company reported $0.14 EPS for the quarter, hitting analysts' consensus estimates of $0.14. Safe Bulkers had a return on equity of 4.91% and a net margin of 13.99%.The firm had revenue of $72.57 million for the quarter, compared to analysts' expectations of $70.00 million.

Safe Bulkers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 2nd were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, March 2nd. Safe Bulkers's dividend payout ratio (DPR) is 66.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SB. Tower Research Capital LLC TRC increased its position in Safe Bulkers by 73.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company's stock valued at $40,000 after buying an additional 4,692 shares in the last quarter. Cetera Investment Advisers bought a new position in Safe Bulkers during the 2nd quarter valued at approximately $41,000. Susquehanna Fundamental Investments LLC bought a new position in Safe Bulkers during the 3rd quarter valued at approximately $46,000. Evergreen Capital Management LLC purchased a new position in Safe Bulkers in the 2nd quarter worth approximately $46,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Safe Bulkers in the 4th quarter worth approximately $48,000. Institutional investors own 21.69% of the company's stock.

About Safe Bulkers

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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