Safe Bulkers (NYSE:SB) Sees Unusually-High Trading Volume – What’s Next?

Safe Bulkers, Inc (NYSE:SB) shares saw unusually-strong trading volume on Tuesday . Approximately 1,385,843 shares were traded during mid-day trading, an increase of 100% from the previous session’s volume of 693,075 shares.The stock last traded at $7.1450 and had previously closed at $6.96.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Safe Bulkers from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Safe Bulkers Stock Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50 day moving average price is $6.73 and its 200 day moving average price is $6.21. The company has a market capitalization of $728.60 million, a P/E ratio of 15.83 and a beta of 0.84.

Safe Bulkers (NYSE:SB) last announced its earnings results on Thursday, June 18th. The shipping company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.08. The business had revenue of $74.39 million during the quarter, compared to the consensus estimate of $65.50 million. Safe Bulkers had a net margin of 18.73% and a return on equity of 6.45%.

Safe Bulkers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, June 30th. This is an increase from Safe Bulkers’s previous quarterly dividend of $0.05. Safe Bulkers’s dividend payout ratio (DPR) is 53.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its stake in shares of Safe Bulkers by 2.0% in the 1st quarter. Renaissance Technologies LLC now owns 3,557,921 shares of the shipping company’s stock valued at $22,522,000 after purchasing an additional 68,155 shares during the period. Goldman Sachs Group Inc. increased its holdings in Safe Bulkers by 30.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,651,114 shares of the shipping company’s stock worth $12,778,000 after purchasing an additional 617,711 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Safe Bulkers by 5.0% in the second quarter. Ameriprise Financial Inc. now owns 1,314,711 shares of the shipping company’s stock worth $4,739,000 after purchasing an additional 62,931 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Safe Bulkers by 3.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,187,934 shares of the shipping company’s stock valued at $5,726,000 after buying an additional 36,356 shares during the period. Finally, Fearnley Asset Management AS acquired a new position in Safe Bulkers in the fourth quarter valued at approximately $5,112,000. 21.69% of the stock is owned by institutional investors and hedge funds.

Safe Bulkers Company Profile

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.