Ellevest Inc. Sells 6,147 Shares of Safe Bulkers, Inc. (NYSE:SB)

Ellevest Inc. lessened its stake in shares of Safe Bulkers, Inc. (NYSE:SB) by 24.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 19,306 shares of the shipping company’s stock after selling 6,147 shares during the period. Ellevest Inc.’s holdings in Safe Bulkers were worth $69,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SB. SG Americas Securities LLC raised its position in Safe Bulkers by 19.6% during the fourth quarter. SG Americas Securities LLC now owns 25,204 shares of the shipping company’s stock valued at $90,000 after purchasing an additional 4,122 shares during the period. Price T Rowe Associates Inc. MD raised its position in Safe Bulkers by 23.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,293 shares of the shipping company’s stock valued at $87,000 after purchasing an additional 4,680 shares during the period. Principal Financial Group Inc. raised its position in Safe Bulkers by 10.1% during the fourth quarter. Principal Financial Group Inc. now owns 70,987 shares of the shipping company’s stock valued at $253,000 after purchasing an additional 6,534 shares during the period. Algert Global LLC raised its position in Safe Bulkers by 42.1% during the fourth quarter. Algert Global LLC now owns 25,403 shares of the shipping company’s stock valued at $91,000 after purchasing an additional 7,520 shares during the period. Finally, Wells Fargo & Company MN raised its position in Safe Bulkers by 18.5% during the fourth quarter. Wells Fargo & Company MN now owns 50,794 shares of the shipping company’s stock valued at $181,000 after purchasing an additional 7,922 shares during the period. Institutional investors own 21.69% of the company’s stock.

Analyst Ratings Changes

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

Safe Bulkers Trading Down 0.3%

Shares of NYSE SB opened at $3.41 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’s 50 day moving average price is $3.51 and its 200-day moving average price is $3.69. Safe Bulkers, Inc. has a fifty-two week low of $3.02 and a fifty-two week high of $6.33. The company has a market cap of $359.07 million, a price-to-earnings ratio of 4.11 and a beta of 1.17.

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

Safe Bulkers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.20 annualized dividend and a dividend yield of 5.87%. Safe Bulkers’s payout ratio is 24.10%.

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.