Geode Capital Management LLC boosted its position in Safe Bulkers, Inc. (NYSE:SB) by 16.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,319 shares of the shipping company’s stock after purchasing an additional 34,889 shares during the quarter. Geode Capital Management LLC’s holdings in Safe Bulkers were worth $441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SB. BlackRock Inc. increased its holdings in shares of Safe Bulkers by 2.7% in the 4th quarter. BlackRock Inc. now owns 2,667,754 shares of the shipping company’s stock worth $4,749,000 after buying an additional 69,107 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Safe Bulkers by 59.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 666,466 shares of the shipping company’s stock worth $1,919,000 after purchasing an additional 249,270 shares during the period. Chicago Equity Partners LLC purchased a new stake in shares of Safe Bulkers in the 4th quarter worth about $705,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Safe Bulkers by 16.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,850 shares of the shipping company’s stock worth $293,000 after purchasing an additional 23,775 shares during the period. Finally, Dupont Capital Management Corp lifted its position in shares of Safe Bulkers by 30.5% in the 4th quarter. Dupont Capital Management Corp now owns 140,156 shares of the shipping company’s stock worth $249,000 after purchasing an additional 32,767 shares during the period. Institutional investors and hedge funds own 19.17% of the company’s stock.
Several equities research analysts have recently commented on SB shares. ValuEngine raised shares of Safe Bulkers from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 16th. TheStreet raised shares of Safe Bulkers from a “d+” rating to a “c” rating in a research report on Friday, April 12th. Zacks Investment Research cut shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Friday, January 18th. Finally, Maxim Group lowered their price target on shares of Safe Bulkers to $3.50 and set a “buy” rating for the company in a research report on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $4.25.
Safe Bulkers (NYSE:SB) last released its quarterly earnings data on Tuesday, February 19th. The shipping company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $52.57 million for the quarter, compared to the consensus estimate of $52.04 million. Safe Bulkers had a net margin of 14.19% and a return on equity of 6.30%. As a group, research analysts forecast that Safe Bulkers, Inc. will post 0.11 earnings per share for the current fiscal year.
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Safe Bulkers Company Profile
Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 14, 2019, the company had a fleet of 41 drybulk vessels having an average age of 8.5 years; and an aggregate carrying capacity of 3.8 million deadweight tons.
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