Tidal Investments LLC Sells 150,354 Shares of Safe Bulkers, Inc. (NYSE:SB)

Tidal Investments LLC trimmed its position in Safe Bulkers, Inc. (NYSE:SB) by 75.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,675 shares of the shipping company’s stock after selling 150,354 shares during the period. Tidal Investments LLC’s holdings in Safe Bulkers were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SB. LSV Asset Management increased its position in shares of Safe Bulkers by 440.7% during the second quarter. LSV Asset Management now owns 552,357 shares of the shipping company’s stock worth $3,215,000 after acquiring an additional 450,209 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Safe Bulkers by 20.0% during the 2nd quarter. Acadian Asset Management LLC now owns 2,278,803 shares of the shipping company’s stock worth $13,251,000 after purchasing an additional 380,270 shares in the last quarter. Denali Advisors LLC raised its stake in shares of Safe Bulkers by 316.6% in the second quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock worth $2,435,000 after purchasing an additional 317,900 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Safe Bulkers in the third quarter valued at approximately $1,480,000. Finally, Walleye Capital LLC purchased a new position in shares of Safe Bulkers during the third quarter valued at approximately $1,109,000. 21.69% of the stock is owned by institutional investors and hedge funds.

Safe Bulkers Stock Performance

SB stock opened at $3.64 on Thursday. The business has a 50 day moving average of $4.07 and a 200-day moving average of $4.82. The firm has a market cap of $388.67 million, a PE ratio of 4.04 and a beta of 0.91. Safe Bulkers, Inc. has a 12-month low of $3.40 and a 12-month high of $6.33. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.52.

Safe Bulkers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 2nd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 5.49%. The ex-dividend date was Monday, December 2nd. Safe Bulkers’s dividend payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com cut Safe Bulkers from a “buy” rating to a “hold” rating in a research note on Saturday, December 21st. Jefferies Financial Group reissued a “buy” rating and set a $6.00 price target on shares of Safe Bulkers in a research report on Thursday, November 14th.

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.