Renaissance Technologies LLC Sells 291,700 Shares of Safe Bulkers, Inc. (NYSE:SB)

Renaissance Technologies LLC trimmed its position in Safe Bulkers, Inc. (NYSE:SB) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,310,586 shares of the shipping company’s stock after selling 291,700 shares during the quarter. Renaissance Technologies LLC owned 3.10% of Safe Bulkers worth $19,268,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its stake in Safe Bulkers by 14.4% in the second quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock valued at $98,000 after acquiring an additional 2,129 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Safe Bulkers during the second quarter worth $104,000. Price T Rowe Associates Inc. MD grew its stake in shares of Safe Bulkers by 26.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,945 shares of the shipping company’s stock worth $99,000 after buying an additional 4,129 shares during the last quarter. Simplicity Wealth LLC bought a new stake in shares of Safe Bulkers during the first quarter worth $106,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Safe Bulkers during the first quarter worth $135,000. 21.69% of the stock is owned by institutional investors.

Safe Bulkers Stock Performance

NYSE SB opened at $4.84 on Friday. The firm’s fifty day moving average price is $5.03 and its two-hundred day moving average price is $5.24. The stock has a market cap of $516.74 million, a PE ratio of 7.12 and a beta of 0.91. Safe Bulkers, Inc. has a fifty-two week low of $3.10 and a fifty-two week high of $6.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.11 and a current ratio of 2.11.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Monday, July 29th. The shipping company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Safe Bulkers had a return on equity of 10.78% and a net margin of 31.11%. The business had revenue of $78.55 million during the quarter, compared to the consensus estimate of $69.16 million. During the same period in the prior year, the firm earned $0.12 EPS. On average, equities analysts expect that Safe Bulkers, Inc. will post 0.86 EPS for the current fiscal year.

Safe Bulkers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.20 annualized dividend and a dividend yield of 4.13%. Safe Bulkers’s dividend payout ratio is 29.41%.

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.