Safe Bulkers (NYSE:SB) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Safe Bulkers, Inc (NYSE:SB) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $7.40 and traded as high as $8.12. Safe Bulkers shares last traded at $7.8150, with a volume of 1,015,713 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Safe Bulkers Stock Performance

The stock has a market capitalization of $795.80 million, a PE ratio of 10.02 and a beta of 0.97. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average price of $8.45 and a 200-day moving average price of $7.40.

Safe Bulkers (NYSE:SB) last issued its 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 firm had revenue of $87.47 million for the quarter, compared to analyst estimates of $77.50 million.

Safe Bulkers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Thursday, August 13th were paid a dividend of $0.0750 per share. This represents a $0.30 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, August 13th. This is a positive change from Safe Bulkers’s previous quarterly dividend of $0.06. Safe Bulkers’s dividend payout ratio (DPR) is presently 38.46%.

Institutional Trading of Safe Bulkers

Several large investors have recently made changes to their positions in SB. BlackRock Inc. acquired a new stake in shares of Safe Bulkers in the second quarter worth $22,450,000. Fearnley Asset Management AS acquired a new position in Safe Bulkers in the 4th quarter worth about $5,112,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Safe Bulkers in the 2nd quarter worth about $5,690,000. Empowered Funds LLC purchased a new position in Safe Bulkers during the second quarter worth approximately $4,458,000. Finally, Bank of America Corp DE purchased a new position in Safe Bulkers during the second quarter worth approximately $2,080,000. 21.69% of the stock is owned by hedge funds and other institutional investors.

Safe Bulkers Company Profile

Safe Bulkers, Inc (NYSE: SB) is a dry bulk shipping company that owns and operates vessels used to transport major bulk commodities by sea. Its fleet serves the international supply chains for cargoes such as iron ore, coal, grain and other agricultural products.

The company operates a range of dry bulk vessels, including Panamax, Kamsarmax, Ultramax, Handysize and Post-Panamax ships. Safe Bulkers provides transportation services to a global customer base, with vessels trading on international routes and serving ports across major shipping regions.

Safe Bulkers was established in 2007 and is incorporated in the Marshall Islands.