Safe Bulkers, Inc. (NYSE:SB) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. cut its stake in shares of Safe Bulkers, Inc. (NYSE:SB) by 3.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 87,119 shares of the shipping company’s stock after selling 3,232 shares during the period. Navellier & Associates Inc.’s holdings in Safe Bulkers were worth $451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC lifted its position in Safe Bulkers by 269.0% during the 3rd quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock worth $55,000 after acquiring an additional 7,800 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Safe Bulkers in the 3rd quarter valued at approximately $86,000. Banque Cantonale Vaudoise raised its position in shares of Safe Bulkers by 14.4% in the 2nd quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock valued at $98,000 after purchasing an additional 2,129 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Safe Bulkers in the 3rd quarter valued at approximately $90,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Safe Bulkers in the 2nd quarter valued at approximately $104,000. 21.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SB has been the topic of a number of recent analyst reports. StockNews.com lowered Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $6.00 target price on shares of Safe Bulkers in a research report on Thursday, November 14th.

Safe Bulkers Price Performance

Shares of NYSE SB opened at $4.12 on Friday. Safe Bulkers, Inc. has a twelve month low of $3.45 and a twelve month high of $6.33. The company has a current ratio of 1.34, a quick ratio of 2.11 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $439.93 million, a price-to-earnings ratio of 4.70 and a beta of 0.95. The business has a 50 day simple moving average of $4.60 and a 200-day simple moving average of $5.13.

Safe Bulkers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 2nd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.85%. Safe Bulkers’s dividend payout ratio (DPR) is 22.22%.

Safe Bulkers Profile

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.