Safe Bulkers (NYSE:SB) Hits New 12-Month High – What’s Next?

Safe Bulkers, Inc (NYSE:SB) reached a new 52-week high on Tuesday . The stock traded as high as $6.84 and last traded at $6.9260, with a volume of 9162 shares trading hands. The stock had previously closed at $6.71.

Safe Bulkers Stock Up 0.2%

The company has a market cap of $709.17 million, a price-to-earnings ratio of 23.12 and a beta of 0.89. The business has a 50-day simple moving average of $6.44 and a two-hundred day simple moving average of $5.60. The company has a quick ratio of 2.63, a current ratio of 2.90 and a debt-to-equity ratio of 0.60.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Saturday, February 14th. The shipping company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. Safe Bulkers had a return on equity of 4.91% and a net margin of 13.99%.The business had revenue of $72.57 million for the quarter, compared to analyst estimates of $70.00 million.

Safe Bulkers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 2nd were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, March 2nd. Safe Bulkers’s dividend payout ratio (DPR) is 66.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Safe Bulkers by 189.7% during the first quarter. Parallel Advisors LLC now owns 12,404 shares of the shipping company’s stock valued at $79,000 after acquiring an additional 8,122 shares during the period. DGS Capital Management LLC increased its stake in shares of Safe Bulkers by 17.3% in the first quarter. DGS Capital Management LLC now owns 20,918 shares of the shipping company’s stock worth $132,000 after purchasing an additional 3,079 shares during the period. Strs Ohio acquired a new position in shares of Safe Bulkers during the 1st quarter worth about $225,000. Fearnley Asset Management AS acquired a new position in shares of Safe Bulkers during the 4th quarter worth about $5,112,000. Finally, Aristides Capital LLC bought a new stake in Safe Bulkers during the 4th quarter valued at approximately $161,000. Institutional investors and hedge funds own 21.69% of the company’s stock.

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.