Safe Bulkers, Inc. (NYSE:SB) Shares Bought by BlackRock Inc.

BlackRock Inc. boosted its position in shares of Safe Bulkers, Inc. (NYSE:SB) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,561,522 shares of the shipping company’s stock after buying an additional 9,360 shares during the quarter. BlackRock Inc.’s holdings in Safe Bulkers were worth $3,996,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SB. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Safe Bulkers by 4.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 160,140 shares of the shipping company’s stock valued at $250,000 after purchasing an additional 7,065 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Safe Bulkers by 19.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 110,082 shares of the shipping company’s stock valued at $172,000 after purchasing an additional 18,302 shares during the period. Northern Trust Corp grew its position in shares of Safe Bulkers by 6.2% in the second quarter. Northern Trust Corp now owns 454,723 shares of the shipping company’s stock valued at $710,000 after purchasing an additional 26,368 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Safe Bulkers by 73.2% in the second quarter. Parametric Portfolio Associates LLC now owns 110,003 shares of the shipping company’s stock valued at $172,000 after purchasing an additional 46,480 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Safe Bulkers by 4.3% in the second quarter. Renaissance Technologies LLC now owns 3,596,495 shares of the shipping company’s stock valued at $5,611,000 after purchasing an additional 148,795 shares during the period. Institutional investors own 14.90% of the company’s stock.

NYSE:SB opened at $1.95 on Friday. The company’s 50-day moving average price is $1.91 and its 200-day moving average price is $1.77. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.13. The company has a market cap of $182.29 million, a P/E ratio of 11.47 and a beta of 1.57. Safe Bulkers, Inc. has a twelve month low of $1.28 and a twelve month high of $2.73.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings results on Tuesday, September 3rd. The shipping company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.04). The business had revenue of $45.52 million during the quarter, compared to analysts’ expectations of $45.65 million. Safe Bulkers had a return on equity of 5.45% and a net margin of 12.51%. On average, analysts expect that Safe Bulkers, Inc. will post 0.12 earnings per share for the current year.

Several brokerages have recently issued reports on SB. Zacks Investment Research lowered shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Thursday, September 19th. ValuEngine upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $3.33.

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

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