Denali Advisors LLC Has $362,000 Stock Holdings in Safe Bulkers, Inc $SB

Denali Advisors LLC decreased its holdings in Safe Bulkers, Inc (NYSE:SB) by 88.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 57,424 shares of the shipping company’s stock after selling 447,400 shares during the period. Denali Advisors LLC’s holdings in Safe Bulkers were worth $362,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Safe Bulkers during the 2nd quarter worth $22,450,000. Fearnley Asset Management AS bought a new position in Safe Bulkers in the fourth quarter valued at about $5,112,000. Goldman Sachs Group Inc. grew its position in Safe Bulkers by 30.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,651,114 shares of the shipping company’s stock valued at $12,778,000 after acquiring an additional 617,711 shares during the last quarter. Millennium Management LLC acquired a new position in Safe Bulkers during the fourth quarter worth about $1,571,000. Finally, Lazard Asset Management LLC acquired a new position in Safe Bulkers during the first quarter worth about $1,625,000. Institutional investors and hedge funds own 21.69% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Safe Bulkers from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Safe Bulkers Stock Performance

NYSE SB opened at $8.25 on Friday. The firm’s fifty day moving average price is $7.18 and its two-hundred day moving average price is $6.69. The stock has a market cap of $840.10 million, a PE ratio of 10.58 and a beta of 0.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.00 and a current ratio of 1.00. Safe Bulkers, Inc has a fifty-two week low of $4.14 and a fifty-two week high of $8.35.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Tuesday, July 28th. The shipping company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. Safe Bulkers had a return on equity of 9.63% and a net margin of 28.29%.The company had revenue of $87.47 million during the quarter, compared to analysts’ expectations of $77.50 million.

Safe Bulkers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, August 13th will be given a $0.075 dividend. This is a boost from Safe Bulkers’s previous quarterly dividend of $0.06. This represents a $0.30 annualized dividend and a yield of 3.6%. The ex-dividend date is Thursday, August 13th. Safe Bulkers’s dividend payout ratio is 38.46%.

Safe Bulkers Company Profile

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.