Safe Bulkers (NYSE:SB) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Safe Bulkers, Inc (NYSE:SB)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.40 and traded as high as $4.85. Safe Bulkers shares last traded at $4.8150, with a volume of 319,512 shares changing hands.

Wall Street Analysts Forecast Growth

SB has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Safe Bulkers in a research note on Monday. Jefferies Financial Group upped their target price on shares of Safe Bulkers from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Finally, Zacks Research raised shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4.80.

Safe Bulkers Trading Down 0.2%

The company’s fifty day moving average is $4.84 and its two-hundred day moving average is $4.40. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.58. The stock has a market cap of $491.18 million, a price-to-earnings ratio of 13.33 and a beta of 1.06.

Safe Bulkers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Monday, December 8th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, December 8th. Safe Bulkers’s payout ratio is 55.56%.

Institutional Trading of Safe Bulkers

A number of hedge funds and other institutional investors have recently bought and sold shares of SB. American Century Companies Inc. increased its position in shares of Safe Bulkers by 16.6% during the second quarter. American Century Companies Inc. now owns 1,441,089 shares of the shipping company’s stock worth $5,202,000 after purchasing an additional 204,874 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Safe Bulkers during the 3rd quarter worth approximately $629,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Safe Bulkers during the third quarter worth approximately $522,000. Janney Montgomery Scott LLC purchased a new stake in Safe Bulkers in the second quarter valued at approximately $381,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Safe Bulkers by 6.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company’s stock valued at $6,017,000 after acquiring an additional 91,662 shares during the period. 21.69% of the stock is currently owned by institutional investors and hedge funds.

About Safe Bulkers

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.