Safe Bulkers (NYSE:SB) Sets New 1-Year High – Time to Buy?

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

Analyst Ratings Changes

SB has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Safe Bulkers in a report on Monday, December 29th. Jefferies Financial Group upped their target price on Safe Bulkers from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Safe Bulkers currently has an average rating of “Hold” and a consensus price target of $6.00.

Safe Bulkers Stock Up 1.2%

The company has a debt-to-equity ratio of 0.58, a current ratio of 2.72 and a quick ratio of 2.72. The stock has a fifty day moving average price of $5.06 and a two-hundred day moving average price of $4.63. The company has a market cap of $559.23 million, a P/E ratio of 15.10 and a beta of 1.06.

Safe Bulkers Announces Dividend

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

Hedge Funds Weigh In On Safe Bulkers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in Safe Bulkers by 16.6% during the second quarter. American Century Companies Inc. now owns 1,441,089 shares of the shipping company’s stock valued at $5,202,000 after acquiring an additional 204,874 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Safe Bulkers during the 3rd quarter valued at $629,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Safe Bulkers in the third quarter worth $522,000. Janney Montgomery Scott LLC purchased a new stake in shares of Safe Bulkers in the second quarter worth $381,000. Finally, Goldman Sachs Group Inc. boosted its stake in Safe Bulkers by 6.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company’s stock valued at $6,017,000 after buying an additional 91,662 shares during the period. Institutional investors own 21.69% of the company’s stock.

Safe Bulkers Company Profile

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.