Exchange Traded Concepts LLC Raises Position in Safe Bulkers, Inc. (NYSE:SB)

Posted by Defense World Staff on Oct 8th, 2023

Exchange Traded Concepts LLC lifted its stake in shares of Safe Bulkers, Inc. (NYSE:SB – Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,332 shares of the shipping company’s stock after purchasing an additional 3,106 shares during the period. Exchange Traded Concepts LLC owned 0.09% of Safe Bulkers worth $366,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SB. Compagnie Lombard Odier SCmA purchased a new position in Safe Bulkers in the 1st quarter valued at approximately $58,000. DGS Capital Management LLC purchased a new position in Safe Bulkers in the 1st quarter valued at approximately $48,000. Prelude Capital Management LLC grew its stake in Safe Bulkers by 47.9% in the 1st quarter. Prelude Capital Management LLC now owns 303,976 shares of the shipping company’s stock valued at $1,122,000 after buying an additional 98,392 shares in the last quarter. Ethic Inc. grew its stake in Safe Bulkers by 28.7% in the 1st quarter. Ethic Inc. now owns 13,645 shares of the shipping company’s stock valued at $50,000 after buying an additional 3,041 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Safe Bulkers in the 2nd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 20.56% of the company’s stock.

Safe Bulkers Stock Up 4.4 %

Shares of NYSE:SB opened at $3.31 on Friday. The firm has a fifty day moving average price of $3.21 and a two-hundred day moving average price of $3.38. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.59 and a quick ratio of 1.59. Safe Bulkers, Inc. has a one year low of $2.45 and a one year high of $3.85. The company has a market cap of $369.33 million, a price-to-earnings ratio of 3.45 and a beta of 0.87.

Safe Bulkers (NYSE:SB – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The shipping company reported $0.12 EPS for the quarter. Safe Bulkers had a net margin of 37.93% and a return on equity of 15.10%. The firm had revenue of $70.62 million during the quarter, compared to the consensus estimate of $58.50 million. During the same period last year, the firm earned $0.40 EPS. Analysts anticipate that Safe Bulkers, Inc. will post 0.5 EPS for the current fiscal year.

Safe Bulkers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 6.04%. The ex-dividend date of this dividend was Thursday, August 17th. Safe Bulkers’s payout ratio is 20.83%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Safe Bulkers in a research note on Thursday. They issued a “hold” rating for the company.

Get Our Latest Analysis on Safe Bulkers

Safe Bulkers Profile

(Free Report)

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. As of February 2023, the company had a fleet of 40 drybulk vessels having an average age of 10.5 years; and an aggregate carrying capacity of 4.5 million deadweight tons.