Safe Bulkers (NYSE:SB) Sees Large Volume Increase – Still a Buy?

Safe Bulkers, Inc (NYSE:SB) saw an uptick in trading volume on Tuesday . Approximately 1,385,843 shares were traded during mid-day trading, an increase of 100% from the previous session’s volume of 693,075 shares.The stock last traded at $7.1450 and had previously closed at $6.96.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Safe Bulkers from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.00.

Safe Bulkers Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $731.66 million, a price-to-earnings ratio of 15.90 and a beta of 0.84. The stock has a 50 day moving average price of $6.74 and a 200-day moving average price of $6.24.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings results on Thursday, June 18th. The shipping company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.08. Safe Bulkers had a net margin of 18.73% and a return on equity of 6.45%. The firm had revenue of $74.39 million for the quarter, compared to the consensus estimate of $65.50 million.

Safe Bulkers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.06 per share. This is a positive change from Safe Bulkers’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.24 dividend on an annualized basis and a yield of 3.4%. Safe Bulkers’s dividend payout ratio (DPR) is presently 53.33%.

Institutional Trading of Safe Bulkers

Several institutional investors and hedge funds have recently added to or reduced their stakes in SB. PNC Financial Services Group Inc. boosted its stake in shares of Safe Bulkers by 77.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,917 shares of the shipping company’s stock valued at $31,000 after buying an additional 2,150 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Safe Bulkers during the fourth quarter worth $48,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Safe Bulkers in the fourth quarter valued at $49,000. Susquehanna Fundamental Investments LLC purchased a new position in Safe Bulkers in the 3rd quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Safe Bulkers by 73.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 4,692 shares in the last quarter. 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.