Safe Bulkers (NYSE:SB) Earns “Buy” Rating from Jefferies Financial Group

Jefferies Financial Group reissued their buy rating on shares of Safe Bulkers (NYSE:SB) in a research note issued to investors on Thursday,Benzinga reports. Jefferies Financial Group currently has a $6.00 price target on the shipping company’s stock.

Separately, StockNews.com cut Safe Bulkers from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.

Safe Bulkers Stock Performance

NYSE SB opened at $4.27 on Thursday. The company has a 50-day simple moving average of $4.61 and a two-hundred day simple moving average of $5.15. Safe Bulkers has a 12-month low of $3.45 and a 12-month high of $6.33. The firm has a market cap of $455.91 million, a price-to-earnings ratio of 4.74 and a beta of 0.95. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58.

Safe Bulkers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.20 annualized dividend and a yield of 4.68%. Safe Bulkers’s payout ratio is currently 22.22%.

Hedge Funds Weigh In On Safe Bulkers

Hedge funds have recently modified their holdings of the company. nVerses Capital LLC grew its stake in shares of Safe Bulkers by 269.0% in the third quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock worth $55,000 after purchasing an additional 7,800 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Safe Bulkers in the 3rd quarter worth approximately $86,000. Aigen Investment Management LP bought a new stake in shares of Safe Bulkers in the 3rd quarter worth approximately $90,000. Verition Fund Management LLC increased its stake in shares of Safe Bulkers by 27.0% during 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 period. Finally, Banque Cantonale Vaudoise raised its holdings in shares of Safe Bulkers by 14.4% during the second quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock valued at $98,000 after acquiring an additional 2,129 shares in the last quarter. Hedge funds and other institutional investors own 21.69% of the company’s stock.

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.