Safe Bulkers (NYSE:SB) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Safe Bulkers (NYSE:SB) from a buy rating to a hold rating in a research note published on Wednesday morning.

Safe Bulkers Stock Performance

Shares of Safe Bulkers stock opened at $4.27 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. The company has a market cap of $455.91 million, a PE ratio of 4.74 and a beta of 0.95. The company has a 50 day moving average of $4.62 and a 200-day moving average of $5.15. Safe Bulkers has a 1-year low of $3.45 and a 1-year high of $6.33.

Safe Bulkers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 2nd will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 4.68%. The ex-dividend date is Monday, December 2nd. Safe Bulkers’s dividend payout ratio (DPR) is presently 22.22%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC grew its holdings in shares of Safe Bulkers by 269.0% during the third quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock worth $55,000 after purchasing an additional 7,800 shares during the last quarter. Intech Investment Management LLC bought a new stake in Safe Bulkers during the 3rd quarter worth approximately $86,000. Aigen Investment Management LP acquired a new position in Safe Bulkers in the 3rd quarter valued at approximately $90,000. Verition Fund Management LLC raised its stake in shares of Safe Bulkers by 27.0% during the third quarter. Verition Fund Management LLC now owns 18,400 shares of the shipping company’s stock valued at $95,000 after acquiring an additional 3,913 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of Safe Bulkers by 14.4% during the second quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock worth $98,000 after purchasing an additional 2,129 shares during the period. Institutional investors own 21.69% of the company’s stock.

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.