Gallacher Capital Management LLC Has $340,000 Holdings in Safe Bulkers, Inc. (NYSE:SB)

Gallacher Capital Management LLC boosted its holdings in shares of Safe Bulkers, Inc. (NYSE:SB) by 23.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 95,258 shares of the shipping company’s stock after acquiring an additional 18,324 shares during the quarter. Gallacher Capital Management LLC’s holdings in Safe Bulkers were worth $340,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Aigen Investment Management LP acquired a new stake in shares of Safe Bulkers during the 3rd quarter valued at about $90,000. Victory Capital Management Inc. lifted its holdings in shares of Safe Bulkers by 120.5% during 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 last quarter. Empowered Funds LLC lifted its holdings in shares of 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 during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Safe Bulkers during the 3rd quarter valued at about $1,480,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Safe Bulkers during the 3rd quarter valued at about $86,000. 21.69% of the stock is currently owned by institutional investors and hedge funds.

Safe Bulkers Stock Up 0.9 %

SB opened at $3.79 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.91. The business has a 50 day moving average price of $3.61 and a 200 day moving average price of $4.07. The firm has a market cap of $398.56 million, a P/E ratio of 4.56 and a beta of 0.94. Safe Bulkers, Inc. has a twelve month low of $3.31 and a twelve month high of $6.33.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $69.16 million for the quarter, compared to the consensus estimate of $71.90 million. Safe Bulkers had a return on equity of 10.04% and a net margin of 31.65%. Research analysts forecast that Safe Bulkers, Inc. will post 0.62 EPS for the current year.

Safe Bulkers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 3rd will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.28%. The ex-dividend date is Monday, March 3rd. Safe Bulkers’s dividend payout ratio is currently 24.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SB shares. DNB Markets upgraded Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.20 price target for the company in a report on Monday, January 27th. StockNews.com lowered Safe Bulkers from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Jefferies Financial Group restated a “buy” rating and issued a $6.00 target price on shares of Safe Bulkers in a report on Wednesday, February 19th. Finally, Loop Capital set a $4.20 target price on Safe Bulkers in a report on Monday, January 27th.

Safe Bulkers 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.