Denali Advisors LLC Increases Position in Safe Bulkers, Inc. (NYSE:SB)

Denali Advisors LLC increased its stake in Safe Bulkers, Inc. (NYSE:SB) by 316.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 418,300 shares of the shipping company’s stock after acquiring an additional 317,900 shares during the period. Denali Advisors LLC’s holdings in Safe Bulkers were worth $2,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SB. Banque Cantonale Vaudoise grew its position in Safe Bulkers by 14.4% in the second quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock worth $98,000 after acquiring an additional 2,129 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Safe Bulkers by 26.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,945 shares of the shipping company’s stock worth $99,000 after acquiring an additional 4,129 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Safe Bulkers in the second quarter worth $104,000. Simplicity Wealth LLC purchased a new position in Safe Bulkers in the first quarter worth $106,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Safe Bulkers in the first quarter worth $135,000. 21.69% of the stock is currently owned by hedge funds and other institutional investors.

Safe Bulkers Stock Up 1.6 %

Shares of NYSE:SB opened at $4.83 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market capitalization of $515.14 million, a PE ratio of 7.10 and a beta of 0.91. The firm has a fifty day moving average of $5.09 and a 200 day moving average of $5.24. Safe Bulkers, Inc. has a 52-week low of $3.07 and a 52-week high of $6.33.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings results on Monday, July 29th. The shipping company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $78.55 million during the quarter, compared to the consensus estimate of $69.16 million. Safe Bulkers had a return on equity of 10.78% and a net margin of 31.11%. During the same period in the prior year, the firm earned $0.12 earnings per share. As a group, research analysts anticipate that Safe Bulkers, Inc. will post 0.86 EPS for the current fiscal year.

Safe Bulkers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Wednesday, August 21st. Safe Bulkers’s dividend payout ratio is presently 29.41%.

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.