Signia Capital Management LLC bought a new position in Safe Bulkers, Inc. (NYSE:SB) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 751,133 shares of the shipping company’s stock, valued at approximately $2,426,000. Safe Bulkers accounts for 2.6% of Signia Capital Management LLC’s holdings, making the stock its 19th biggest holding.

Other large investors also recently bought and sold shares of the company. Northern Trust Corp purchased a new stake in shares of Safe Bulkers in the 2nd quarter worth about $943,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Safe Bulkers in the 2nd quarter worth about $292,000. Bank of New York Mellon Corp purchased a new stake in shares of Safe Bulkers in the 2nd quarter worth about $307,000. EAM Investors LLC bought a new position in shares of Safe Bulkers in the 3rd quarter worth about $485,000. Finally, Nationwide Fund Advisors increased its stake in shares of Safe Bulkers by 282.8% in the 3rd quarter. Nationwide Fund Advisors now owns 100,618 shares of the shipping company’s stock worth $276,000 after acquiring an additional 74,335 shares in the last quarter. 20.00% of the stock is owned by hedge funds and other institutional investors.

Safe Bulkers, Inc. (NYSE:SB) opened at $3.31 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.28 and a current ratio of 2.28. Safe Bulkers, Inc. has a 12 month low of $1.23 and a 12 month high of $3.84.

SB has been the subject of several research reports. Zacks Investment Research upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Maxim Group set a $5.00 price target on shares of Safe Bulkers and gave the stock a “buy” rating in a research note on Thursday, October 19th. Citigroup increased their price target on shares of Safe Bulkers from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Thursday, November 2nd. Stifel Nicolaus set a $2.00 price target on shares of Safe Bulkers and gave the stock a “hold” rating in a research note on Saturday, October 21st. Finally, Jefferies Group initiated coverage on shares of Safe Bulkers in a research note on Monday, December 18th. They issued a “hold” rating and a $3.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $3.29.

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About Safe Bulkers

Safe Bulkers, Inc is a holding company. The Company’s principal business is the acquisition, ownership and operation of drybulk vessels. The Company’s vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world.

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Institutional Ownership by Quarter for Safe Bulkers (NYSE:SB)

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