nVerses Capital LLC Acquires 7,800 Shares of Safe Bulkers, Inc. (NYSE:SB)

nVerses Capital LLC boosted its stake in shares of Safe Bulkers, Inc. (NYSE:SB) by 269.0% during the third quarter, Holdings Channel reports. The fund owned 10,700 shares of the shipping company’s stock after acquiring an additional 7,800 shares during the period. nVerses Capital LLC’s holdings in Safe Bulkers were worth $55,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its position in shares of Safe Bulkers by 135.2% during the first quarter. Acadian Asset Management LLC now owns 1,898,533 shares of the shipping company’s stock worth $9,408,000 after purchasing an additional 1,091,277 shares in the last quarter. LSV Asset Management lifted its holdings in Safe Bulkers by 440.7% during the 2nd quarter. LSV Asset Management now owns 552,357 shares of the shipping company’s stock worth $3,215,000 after buying an additional 450,209 shares in the last quarter. Denali Advisors LLC boosted its position in Safe Bulkers by 316.6% in the 2nd quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock valued at $2,435,000 after buying an additional 317,900 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Safe Bulkers by 3,273.7% in the 1st quarter. Russell Investments Group Ltd. now owns 165,345 shares of the shipping company’s stock valued at $821,000 after buying an additional 160,444 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Safe Bulkers by 9.8% in the 2nd quarter. American Century Companies Inc. now owns 1,765,187 shares of the shipping company’s stock valued at $10,273,000 after buying an additional 157,163 shares during the period. Institutional investors and hedge funds own 21.69% of the company’s stock.

Safe Bulkers Price Performance

Safe Bulkers stock opened at $4.39 on Tuesday. The business’s 50-day simple moving average is $4.87 and its 200 day simple moving average is $5.23. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The stock has a market cap of $468.72 million, a price-to-earnings ratio of 5.49 and a beta of 0.92. Safe Bulkers, Inc. has a 12-month low of $3.10 and a 12-month high of $6.33.

Safe Bulkers (NYSE:SB) last issued its earnings results on Monday, July 29th. The shipping company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Safe Bulkers had a net margin of 31.11% and a return on equity of 10.78%. The business had revenue of $78.55 million for the quarter, compared to the consensus estimate of $69.16 million. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, research analysts anticipate that Safe Bulkers, Inc. will post 0.86 earnings per share for the current year.

Safe Bulkers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Wednesday, August 21st. Safe Bulkers’s payout ratio is presently 25.00%.

About Safe Bulkers

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.