Safe Bulkers, Inc. (NYSE:SB) Position Raised by Gallacher Capital Management LLC

Gallacher Capital Management LLC raised its stake in Safe Bulkers, Inc. (NYSE:SB) by 23.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 95,258 shares of the shipping company’s stock after buying an additional 18,324 shares during the quarter. Gallacher Capital Management LLC owned approximately 0.09% of Safe Bulkers worth $340,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SB. State Street Corp raised its stake in shares of Safe Bulkers by 1.8% during the third quarter. State Street Corp now owns 1,653,002 shares of the shipping company’s stock valued at $8,563,000 after purchasing an additional 29,178 shares in the last quarter. Denali Advisors LLC raised its stake in shares of Safe Bulkers by 12.2% during the fourth quarter. Denali Advisors LLC now owns 691,769 shares of the shipping company’s stock valued at $2,470,000 after purchasing an additional 75,200 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Safe Bulkers by 5.1% during the fourth quarter. Empowered Funds LLC now owns 546,562 shares of the shipping company’s stock valued at $1,951,000 after purchasing an additional 26,595 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Safe Bulkers during the third quarter valued at about $1,480,000. Finally, Walleye Capital LLC bought a new stake in shares of Safe Bulkers during the third quarter valued at about $1,109,000. 21.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Safe Bulkers Trading Up 0.9 %

Shares of SB opened at $3.79 on Monday. The business’s 50-day moving average price is $3.61 and its 200 day moving average price is $4.07. The stock has a market capitalization of $398.56 million, a P/E ratio of 4.56 and a beta of 0.94. Safe Bulkers, Inc. has a 1-year low of $3.31 and a 1-year high of $6.33. The company has a current ratio of 1.91, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

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 analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $69.16 million for the quarter, compared to analysts’ expectations of $71.90 million. Safe Bulkers had a return on equity of 10.04% and a net margin of 31.65%. Analysts expect that Safe Bulkers, Inc. will post 0.62 earnings per share for the current year.

Safe Bulkers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 3rd will be paid a $0.05 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 5.28%. Safe Bulkers’s dividend payout ratio is currently 24.10%.

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.