Boston Partners decreased its stake in shares of Safe Bulkers, Inc. (NYSE:SB) by 11.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,031,214 shares of the shipping company’s stock after selling 127,622 shares during the quarter. Boston Partners owned about 1.02% of Safe Bulkers worth $3,506,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SB. Millennium Management LLC lifted its position in Safe Bulkers by 375.5% during the first quarter. Millennium Management LLC now owns 505,443 shares of the shipping company’s stock worth $1,602,000 after buying an additional 399,141 shares in the last quarter. Navellier & Associates Inc acquired a new stake in Safe Bulkers during the first quarter worth $487,000. UBS Group AG increased its stake in Safe Bulkers by 14.9% during the first quarter. UBS Group AG now owns 752,400 shares of the shipping company’s stock worth $2,385,000 after acquiring an additional 97,344 shares during the last quarter. Cavalier Investments LLC acquired a new stake in Safe Bulkers during the first quarter worth $301,000. Finally, BlackRock Inc. increased its stake in Safe Bulkers by 3.5% during the fourth quarter. BlackRock Inc. now owns 2,254,771 shares of the shipping company’s stock worth $7,284,000 after acquiring an additional 75,927 shares during the last quarter. Hedge funds and other institutional investors own 20.40% of the company’s stock.

Shares of NYSE SB opened at $3.01 on Tuesday. Safe Bulkers, Inc. has a twelve month low of $2.67 and a twelve month high of $3.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $319.90 million, a PE ratio of -18.69 and a beta of 2.15.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Wednesday, July 25th. The shipping company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.03). Safe Bulkers had a net margin of 11.47% and a return on equity of 21.84%. The firm had revenue of $47.00 million during the quarter, compared to analyst estimates of $46.45 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The company’s quarterly revenue was up 34.3% compared to the same quarter last year. research analysts anticipate that Safe Bulkers, Inc. will post 0.2 EPS for the current year.

Several research firms have issued reports on SB. Seaport Global Securities raised Safe Bulkers from a “neutral” rating to a “buy” rating and raised their target price for the stock from $3.50 to $5.00 in a research note on Tuesday, July 31st. ValuEngine raised Safe Bulkers from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research cut Safe Bulkers from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 1st. Maxim Group reissued a “buy” rating and set a $6.00 target price on shares of Safe Bulkers in a research note on Monday, July 23rd. Finally, Stifel Nicolaus set a $3.00 target price on Safe Bulkers and gave the stock a “hold” rating in a research note on Monday, April 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.79.

Safe Bulkers Profile

Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It is involved in the acquisition, ownership, and operation of drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 9, 2018, the company had a fleet of 39 drybulk vessels with an aggregate carrying capacity of 3,513,800 deadweight tons.

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Institutional Ownership by Quarter for Safe Bulkers (NYSE:SB)

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