Safe Bulkers (NYSE:SB) Upgraded at DNB Markets

DNB Markets upgraded shares of Safe Bulkers (NYSE:SB) from a hold rating to a buy rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has $4.20 target price on the shipping company’s stock.

Several other brokerages have also recently issued reports on SB. StockNews.com upgraded Safe Bulkers from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $6.00 target price on shares of Safe Bulkers in a report on Thursday, November 14th.

Safe Bulkers Stock Up 3.3 %

SB opened at $3.57 on Monday. The stock’s 50 day moving average price is $3.66 and its 200 day moving average price is $4.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $380.67 million, a P/E ratio of 3.96 and a beta of 0.93. Safe Bulkers has a 12 month low of $3.31 and a 12 month high of $6.33.

Safe Bulkers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 2nd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend was Monday, December 2nd. Safe Bulkers’s dividend payout ratio (DPR) is presently 22.22%.

Institutional Investors Weigh In On Safe Bulkers

Several institutional investors have recently made changes to their positions in SB. nVerses Capital LLC increased its position in Safe Bulkers by 269.0% during the third quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock worth $55,000 after buying an additional 7,800 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Safe Bulkers during the 3rd quarter worth about $86,000. Ballentine Partners LLC acquired a new position in shares of Safe Bulkers during the 4th quarter valued at about $89,000. Aigen Investment Management LP bought a new position in shares of Safe Bulkers in the 3rd quarter valued at approximately $90,000. Finally, SG Americas Securities LLC raised its stake in shares of Safe Bulkers by 19.6% in the 4th quarter. SG Americas Securities LLC now owns 25,204 shares of the shipping company’s stock valued at $90,000 after acquiring an additional 4,122 shares in the last quarter. 21.69% of the stock is currently owned by institutional investors and hedge funds.

Safe Bulkers Company 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.