Safe Bulkers (NYSE:SB) Hits New 52-Week High – Here’s What Happened

Safe Bulkers, Inc (NYSE:SB)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $7.20 and last traded at $7.1450, with a volume of 64371 shares changing hands. The stock had previously closed at $7.07.

Safe Bulkers Trading Up 0.2%

The business’s fifty day simple moving average is $6.50 and its 200 day simple moving average is $5.70. The company has a current ratio of 2.90, a quick ratio of 2.63 and a debt-to-equity ratio of 0.60. The stock has a market cap of $744.96 million, a P/E ratio of 24.28 and a beta of 0.89.

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

Safe Bulkers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 2nd were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, March 2nd. Safe Bulkers’s payout ratio is 66.67%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Fearnley Asset Management AS acquired a new stake in shares of Safe Bulkers in the 4th quarter valued at $5,112,000. Goldman Sachs Group Inc. lifted its stake in shares of Safe Bulkers by 30.4% during 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 period. Millennium Management LLC bought a new position in Safe Bulkers in the fourth quarter valued at about $1,571,000. Sei Investments Co. increased its position in Safe Bulkers by 692.7% in the first quarter. Sei Investments Co. now owns 262,615 shares of the shipping company’s stock worth $1,662,000 after purchasing an additional 229,486 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in Safe Bulkers during the 3rd quarter worth about $629,000. 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.