Safe Bulkers (NYSE:SB) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Safe Bulkers (NYSE:SB) from a buy rating to a hold rating in a research report report published on Wednesday.

Safe Bulkers Stock Performance

NYSE SB opened at $4.41 on Wednesday. The business has a 50 day simple moving average of $4.63 and a two-hundred day simple moving average of $5.16. Safe Bulkers has a 1-year low of $3.26 and a 1-year high of $6.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a market capitalization of $470.86 million, a PE ratio of 5.51 and a beta of 0.95.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Intech Investment Management LLC bought a new stake in shares of Safe Bulkers during the third quarter worth $86,000. Segall Bryant & Hamill LLC purchased a new position in Safe Bulkers in the 3rd quarter worth about $1,480,000. Empowered Funds LLC lifted its holdings in Safe Bulkers by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 519,967 shares of the shipping company’s stock valued at $2,693,000 after buying an additional 26,398 shares in the last quarter. Victory Capital Management Inc. boosted its position in Safe Bulkers by 120.5% in the 3rd quarter. Victory Capital Management Inc. now owns 39,558 shares of the shipping company’s stock valued at $205,000 after buying an additional 21,619 shares during the period. Finally, Aigen Investment Management LP bought a new position in Safe Bulkers in the 3rd quarter worth about $90,000. 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.