MetLife Investment Management LLC Sells 14,039 Shares of Safe Bulkers, Inc. (NYSE:SB)

MetLife Investment Management LLC lessened its stake in Safe Bulkers, Inc. (NYSE:SB) by 38.1% in the third quarter, HoldingsChannel reports. The fund owned 22,845 shares of the shipping company’s stock after selling 14,039 shares during the period. MetLife Investment Management LLC’s holdings in Safe Bulkers were worth $118,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Banque Cantonale Vaudoise increased its position in shares of 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 period. Price T Rowe Associates Inc. MD lifted its holdings in Safe Bulkers by 26.1% in the 1st 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 period. Cubist Systematic Strategies LLC grew its position in shares of Safe Bulkers by 27.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,567 shares of the shipping company’s stock worth $149,000 after buying an additional 5,572 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Safe Bulkers by 10.3% during the second quarter. Principal Financial Group Inc. now owns 64,745 shares of the shipping company’s stock valued at $377,000 after buying an additional 6,056 shares during the period. Finally, nVerses Capital LLC raised 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 acquiring an additional 7,800 shares in the last quarter. 21.69% of the stock is currently owned by hedge funds and other institutional investors.

Safe Bulkers Trading Up 3.4 %

SB opened at $3.97 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. Safe Bulkers, Inc. has a 52 week low of $3.63 and a 52 week high of $6.33. The stock has a market cap of $423.92 million, a PE ratio of 4.41 and a beta of 0.91. The business has a 50 day moving average of $4.33 and a 200-day moving average of $4.99.

Safe Bulkers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Monday, December 2nd. Safe Bulkers’s dividend payout ratio is currently 22.22%.

Analyst Ratings Changes

A number of brokerages have issued reports on SB. StockNews.com downgraded shares of Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Jefferies Financial Group reissued a “buy” rating and issued a $6.00 price target on shares of Safe Bulkers in a research note on Thursday, November 14th.

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.