Empowered Funds LLC Buys 26,398 Shares of Safe Bulkers, Inc. (NYSE:SB)

Empowered Funds LLC increased its stake in Safe Bulkers, Inc. (NYSE:SB) by 5.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 519,967 shares of the shipping company’s stock after acquiring an additional 26,398 shares during the period. Empowered Funds LLC’s holdings in Safe Bulkers were worth $2,693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of Safe Bulkers by 120.5% during the third quarter. Victory Capital Management Inc. now owns 39,558 shares of the shipping company’s stock valued at $205,000 after buying an additional 21,619 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Safe Bulkers during the third quarter valued at approximately $90,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Safe Bulkers by 10.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 112,485 shares of the shipping company’s stock valued at $583,000 after buying an additional 11,040 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of Safe Bulkers by 269.0% during the third quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock valued at $55,000 after buying an additional 7,800 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Safe Bulkers during the third quarter valued at approximately $109,000. Institutional investors own 21.69% of the company’s stock.

Wall Street Analysts Forecast Growth

SB has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $6.00 price target on shares of Safe Bulkers in a report on Thursday, November 14th. StockNews.com cut shares of Safe Bulkers from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.

Safe Bulkers Trading Down 1.1 %

Shares of SB stock opened at $4.38 on Wednesday. Safe Bulkers, Inc. has a 12-month low of $3.45 and a 12-month high of $6.33. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $4.61 and its 200 day moving average is $5.14. The stock has a market capitalization of $467.70 million, a P/E ratio of 4.87 and a beta of 0.95.

Safe Bulkers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 2nd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, December 2nd. Safe Bulkers’s dividend payout ratio is currently 22.22%.

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.