TIAA CREF Investment Management LLC Invests $292,000 in Safe Bulkers, Inc (SB) Stock
TIAA CREF Investment Management LLC acquired a new position in Safe Bulkers, Inc (NYSE:SB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 127,471 shares of the shipping company’s stock, valued at approximately $292,000. TIAA CREF Investment Management LLC owned 0.13% of Safe Bulkers at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Evermore Global Advisors LLC boosted its holdings in Safe Bulkers by 35.1% in the 2nd quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock worth $12,356,000 after buying an additional 1,402,983 shares during the period. Renaissance Technologies LLC boosted its holdings in Safe Bulkers by 335.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock worth $2,793,000 after buying an additional 977,900 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Safe Bulkers by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock worth $1,041,000 after buying an additional 171,813 shares during the period. Bank of New York Mellon Corp bought a new position in Safe Bulkers in the 2nd quarter worth approximately $307,000. Finally, Teachers Advisors LLC bought a new position in Safe Bulkers in the 2nd quarter worth approximately $214,000. 18.93% of the stock is owned by institutional investors.
Several research firms recently commented on SB. Citigroup Inc. raised their price objective on shares of Safe Bulkers from $2.00 to $2.50 and gave the stock a “sell” rating in a report on Thursday, November 2nd. Maxim Group set a $5.00 price objective on shares of Safe Bulkers and gave the stock a “buy” rating in a report on Tuesday, October 31st. Jefferies Group LLC reaffirmed a “hold” rating on shares of Safe Bulkers in a report on Friday, November 3rd. Stifel Nicolaus set a $2.00 price objective on shares of Safe Bulkers and gave the stock a “hold” rating in a report on Saturday, October 21st. Finally, Zacks Investment Research raised shares of Safe Bulkers from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Safe Bulkers currently has a consensus rating of “Hold” and a consensus price target of $3.00.
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Shares of Safe Bulkers, Inc (SB) opened at $3.19 on Thursday. Safe Bulkers, Inc has a 52 week low of $1.09 and a 52 week high of $3.79. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.00.
Safe Bulkers (NYSE:SB) last posted its earnings results on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). Safe Bulkers had a negative net margin of 2.01% and a negative return on equity of 2.10%. The business had revenue of $38.80 million for the quarter, compared to analysts’ expectations of $37.12 million. During the same period in the prior year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 37.6% compared to the same quarter last year. equities research analysts expect that Safe Bulkers, Inc will post -0.18 EPS for the current year.
Safe Bulkers Profile
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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