JPMorgan Chase & Co. cut its position in shares of Safe Bulkers, Inc. (NYSE:SB – Free Report) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 599,994 shares of the shipping company’s stock after selling 3,062 shares during the period. JPMorgan Chase & Co.’s holdings in Safe Bulkers were worth $3,108,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in Safe Bulkers by 107.0% during the third quarter. Franklin Resources Inc. now owns 82,417 shares of the shipping company’s stock worth $427,000 after acquiring an additional 42,598 shares during the last quarter. Barclays PLC grew its holdings in shares of Safe Bulkers by 83.4% during the 3rd quarter. Barclays PLC now owns 125,238 shares of the shipping company’s stock worth $648,000 after purchasing an additional 56,946 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Safe Bulkers during the 3rd quarter worth about $492,000. State Street Corp raised its holdings in Safe Bulkers by 1.8% in the 3rd quarter. State Street Corp now owns 1,653,002 shares of the shipping company’s stock valued at $8,563,000 after buying an additional 29,178 shares during the period. Finally, Verition Fund Management LLC lifted its position in Safe Bulkers by 27.0% in the third quarter. Verition Fund Management LLC now owns 18,400 shares of the shipping company’s stock valued at $95,000 after buying an additional 3,913 shares during the last quarter. 21.69% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $6.00 target price on shares of Safe Bulkers in a report on Thursday, November 14th.
Safe Bulkers Price Performance
SB stock opened at $3.43 on Monday. The business’s fifty day moving average price is $3.79 and its 200 day moving average price is $4.53. Safe Bulkers, Inc. has a 12-month low of $3.37 and a 12-month high of $6.33. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $365.71 million, a PE ratio of 3.81 and a beta of 0.93.
Safe Bulkers Announces Dividend
The firm also recently declared 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. The ex-dividend date was Monday, December 2nd. This represents a $0.20 annualized dividend and a dividend yield of 5.84%. Safe Bulkers’s dividend payout ratio is presently 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.
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