Denali Advisors LLC Buys 317,900 Shares of Safe Bulkers, Inc. (NYSE:SB)

Denali Advisors LLC increased its stake in Safe Bulkers, Inc. (NYSE:SB) by 316.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 418,300 shares of the shipping company’s stock after purchasing an additional 317,900 shares during the quarter. Denali Advisors LLC owned approximately 0.39% of Safe Bulkers worth $2,435,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise grew its stake in Safe Bulkers by 14.4% in the 2nd quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock valued at $98,000 after buying an additional 2,129 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Safe Bulkers in the 2nd quarter valued at approximately $104,000. Price T Rowe Associates Inc. MD grew its stake in Safe Bulkers by 26.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,945 shares of the shipping company’s stock valued at $99,000 after buying an additional 4,129 shares in the last quarter. Simplicity Wealth LLC purchased a new position in Safe Bulkers in the 1st quarter valued at approximately $106,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Safe Bulkers in the 1st quarter valued at approximately $135,000. Institutional investors own 21.69% of the company’s stock.

Safe Bulkers Stock Up 1.6 %

Safe Bulkers stock opened at $4.83 on Tuesday. The firm has a 50 day simple moving average of $5.09 and a 200 day simple moving average of $5.24. The firm has a market capitalization of $515.14 million, a price-to-earnings ratio of 7.10 and a beta of 0.91. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. Safe Bulkers, Inc. has a 1-year low of $3.07 and a 1-year high of $6.33.

Safe Bulkers (NYSE:SB) last released its quarterly earnings results on Monday, July 29th. The shipping company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $78.55 million for the quarter, compared to analysts’ expectations of $69.16 million. Safe Bulkers had a net margin of 31.11% and a return on equity of 10.78%. During the same quarter last year, the firm earned $0.12 earnings per share. On average, analysts predict that Safe Bulkers, Inc. will post 0.86 earnings per share for the current year.

Safe Bulkers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.15%. Safe Bulkers’s dividend payout ratio (DPR) is currently 29.41%.

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.