Safe Bulkers (NYSE:SB) Reaches New 12-Month High – Here’s Why

Safe Bulkers, Inc (NYSE:SB)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $5.58 and last traded at $5.4850, with a volume of 409 shares changing hands. The stock had previously closed at $5.40.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SB shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Safe Bulkers in a research report on Monday, December 29th. Jefferies Financial Group lifted their price objective on shares of Safe Bulkers from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Safe Bulkers Stock Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.72 and a current ratio of 2.72. The company has a market cap of $559.23 million, a PE ratio of 15.10 and a beta of 1.06. The business’s 50-day moving average is $5.06 and its 200 day moving average is $4.63.

Safe Bulkers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Monday, December 8th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, December 8th. Safe Bulkers’s payout ratio is 55.56%.

Hedge Funds Weigh In On Safe Bulkers

A number of large investors have recently bought and sold shares of the stock. Tidal Investments LLC increased its stake in shares of Safe Bulkers by 5.9% in the second quarter. Tidal Investments LLC now owns 43,299 shares of the shipping company’s stock worth $156,000 after buying an additional 2,423 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Safe Bulkers by 2.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 116,912 shares of the shipping company’s stock worth $588,000 after acquiring an additional 3,148 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Safe Bulkers by 0.9% in the second quarter. Russell Investments Group Ltd. now owns 459,138 shares of the shipping company’s stock valued at $1,657,000 after acquiring an additional 3,983 shares during the period. Vanguard Group Inc. raised its stake in shares of Safe Bulkers by 0.6% during the third quarter. Vanguard Group Inc. now owns 765,593 shares of the shipping company’s stock valued at $3,399,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Safe Bulkers by 73.4% during the second quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock worth $40,000 after purchasing an additional 4,692 shares during the period. 21.69% of the stock is owned by hedge funds and other institutional investors.

About Safe Bulkers

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.