Safe Bulkers (NYSE:SB) Hits New 52-Week High – Should You Buy?

Safe Bulkers, Inc (NYSE:SB)’s share price hit a new 52-week high on Wednesday . The company traded as high as $6.05 and last traded at $5.9450, with a volume of 243961 shares traded. The stock had previously closed at $5.85.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SB shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Safe Bulkers in a research report on Monday, December 29th. Jefferies Financial Group raised their target price on Safe Bulkers from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Safe Bulkers presently has an average rating of “Hold” and an average target price of $6.00.

Safe Bulkers Stock Performance

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 capitalization of $610.40 million, a P/E ratio of 16.57 and a beta of 1.13. The company’s fifty day moving average is $5.18 and its 200 day moving average is $4.74.

Safe Bulkers Announces Dividend

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

Hedge Funds Weigh In On Safe Bulkers

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. bought a new stake in Safe Bulkers in the third quarter worth $522,000. American Century Companies Inc. lifted its holdings in shares of Safe Bulkers by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 1,441,089 shares of the shipping company’s stock valued at $5,202,000 after buying an additional 204,874 shares during the period. Denali Advisors LLC lifted its position in shares of Safe Bulkers by 6.9% in the second quarter. Denali Advisors LLC now owns 930,081 shares of the shipping company’s stock valued at $3,358,000 after acquiring an additional 59,666 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Safe Bulkers during the 2nd quarter worth approximately $381,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Safe Bulkers during the second quarter worth about $120,000. 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.