Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Safe Bulkers, Inc. (NYSE:SB – Get Rating) by 12.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 484,389 shares of the shipping company’s stock after selling 71,133 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Safe Bulkers were worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in SB. Citigroup Inc. grew its stake in Safe Bulkers by 176.5% during the 3rd quarter. Citigroup Inc. now owns 7,219 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 4,608 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in Safe Bulkers by 1,559.5% during the 4th quarter. Koshinski Asset Management Inc. now owns 9,741 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 9,154 shares during the last quarter. Salvus Wealth Management LLC purchased a new stake in Safe Bulkers during the 4th quarter valued at about $50,000. Toroso Investments LLC purchased a new stake in Safe Bulkers during the 3rd quarter valued at about $70,000. Finally, ProShare Advisors LLC purchased a new stake in Safe Bulkers during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 24.94% of the company’s stock.
Several analysts have weighed in on SB shares. Jefferies Financial Group started coverage on Safe Bulkers in a research note on Wednesday, April 27th. They set a “hold” rating on the stock. StockNews.com started coverage on Safe Bulkers in a report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Zacks Investment Research raised Safe Bulkers from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a report on Tuesday, March 29th.
Safe Bulkers (NYSE:SB – Get Rating) last released its quarterly earnings results on Wednesday, March 9th. The shipping company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $91.97 million during the quarter, compared to analyst estimates of $91.15 million. Safe Bulkers had a return on equity of 26.49% and a net margin of 52.99%. During the same period in the previous year, the company posted $0.04 EPS. Equities analysts predict that Safe Bulkers, Inc. will post 1.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 28th. Shareholders of record on Monday, March 21st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.96%. This is a boost from Safe Bulkers’s previous quarterly dividend of $0.01. Safe Bulkers’s dividend payout ratio is presently 3.57%.
About Safe Bulkers (Get Rating)
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. As of March 18, 2022, the company had a fleet of 40 drybulk vessels having an average age of 10.4 years; and an aggregate carrying capacity of 3,925,500 deadweight tons.
- Get a free copy of the StockNews.com research report on Safe Bulkers (SB)
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