Safe Bulkers (NYSE:SB) Hits New 12-Month High – What’s Next?

Safe Bulkers, Inc (NYSE:SB)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $5.88 and last traded at $5.8650, with a volume of 739494 shares traded. The stock had previously closed at $5.71.

Analyst Ratings Changes

Several equities analysts have weighed in on SB shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Safe Bulkers in a research report on Monday, December 29th. Jefferies Financial Group lifted their price target on Safe Bulkers from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Safe Bulkers presently has an average rating of “Hold” and a consensus target price of $6.00.

Safe Bulkers Trading Up 2.7%

The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.58. The company has a market cap of $600.17 million, a PE ratio of 16.29 and a beta of 1.13. The business’s 50-day simple moving average is $5.13 and its 200-day simple moving average is $4.67.

Safe Bulkers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Monday, December 8th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.20 dividend on an annualized basis and a yield of 3.4%. Safe Bulkers’s dividend payout ratio (DPR) is presently 55.56%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SB. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Safe Bulkers during the 3rd quarter valued at about $46,000. Tower Research Capital LLC TRC lifted its stake in Safe Bulkers by 73.4% in the second quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 4,692 shares during the last quarter. Cetera Investment Advisers bought a new stake in Safe Bulkers in the second quarter worth approximately $41,000. State of Alaska Department of Revenue increased its stake in shares of Safe Bulkers by 106.8% during the 4th quarter. State of Alaska Department of Revenue now owns 11,599 shares of the shipping company’s stock worth $55,000 after purchasing an additional 5,991 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new position in shares of Safe Bulkers during the 2nd quarter valued at $46,000. 21.69% of the stock is owned by institutional investors and hedge funds.

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.