Sei Investments Co. Has $1.66 Million Position in Safe Bulkers, Inc $SB

Sei Investments Co. boosted its holdings in Safe Bulkers, Inc (NYSE:SB) by 692.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 262,615 shares of the shipping company’s stock after acquiring an additional 229,486 shares during the quarter. Sei Investments Co.’s holdings in Safe Bulkers were worth $1,662,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SB. PNC Financial Services Group Inc. lifted its stake in Safe Bulkers by 77.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,917 shares of the shipping company’s stock worth $31,000 after purchasing an additional 2,150 shares during the period. Parallel Advisors LLC boosted its holdings in Safe Bulkers by 189.7% during the first quarter. Parallel Advisors LLC now owns 12,404 shares of the shipping company’s stock valued at $79,000 after purchasing an additional 8,122 shares in the last quarter. DGS Capital Management LLC boosted its holdings in Safe Bulkers by 17.3% during the first quarter. DGS Capital Management LLC now owns 20,918 shares of the shipping company’s stock valued at $132,000 after purchasing an additional 3,079 shares in the last quarter. Strs Ohio bought a new stake in shares of Safe Bulkers in the 1st quarter valued at approximately $225,000. Finally, Fearnley Asset Management AS bought a new stake in shares of Safe Bulkers in the 4th quarter valued at approximately $5,112,000. Institutional investors and hedge funds own 21.69% of the company’s stock.

Safe Bulkers Stock Down 1.2%

Shares of NYSE SB opened at $7.51 on Tuesday. Safe Bulkers, Inc has a 12-month low of $4.12 and a 12-month high of $8.05. The firm’s 50-day simple moving average is $6.97 and its 200 day simple moving average is $6.56. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. The company has a market cap of $764.74 million, a price-to-earnings ratio of 9.63 and a beta of 0.84.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings data on Tuesday, July 28th. The shipping company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.06. Safe Bulkers had a net margin of 28.29% and a return on equity of 9.63%. The firm had revenue of $87.47 million during the quarter, compared to analysts’ expectations of $77.50 million.

Safe Bulkers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 4.0%. This is an increase from Safe Bulkers’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, August 13th. Safe Bulkers’s payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. 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, the company has an average rating of “Hold” and an average price target of $6.00.

Safe Bulkers 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.