Geode Capital Management LLC Has $3.76 Million Stock Position in Safe Bulkers, Inc. (NYSE:SB)

Geode Capital Management LLC cut its stake in shares of Safe Bulkers, Inc. (NYSE:SB) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 725,475 shares of the shipping company’s stock after selling 39,279 shares during the period. Geode Capital Management LLC’s holdings in Safe Bulkers were worth $3,758,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SB. LSV Asset Management increased its stake in shares of Safe Bulkers by 440.7% during the 2nd quarter. LSV Asset Management now owns 552,357 shares of the shipping company’s stock worth $3,215,000 after purchasing an additional 450,209 shares during the last quarter. Acadian Asset Management LLC increased its position in Safe Bulkers by 20.0% during the second quarter. Acadian Asset Management LLC now owns 2,278,803 shares of the shipping company’s stock worth $13,251,000 after buying an additional 380,270 shares during the last quarter. Denali Advisors LLC raised its stake in Safe Bulkers by 316.6% in the second quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock valued at $2,435,000 after buying an additional 317,900 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Safe Bulkers in the third quarter valued at approximately $1,480,000. Finally, Walleye Capital LLC acquired a new stake in shares of Safe Bulkers in the third quarter valued at approximately $1,109,000. 21.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and set a $6.00 target price on shares of Safe Bulkers in a report on Thursday, November 14th. StockNews.com lowered shares of Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Saturday, December 21st.

Safe Bulkers Trading Down 3.7 %

Shares of SB stock opened at $3.41 on Tuesday. Safe Bulkers, Inc. has a 12-month low of $3.40 and a 12-month high of $6.33. The firm has a 50 day moving average price of $3.93 and a two-hundred day moving average price of $4.68. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $364.11 million, a PE ratio of 3.79 and a beta of 0.93.

Safe Bulkers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 2nd were paid a $0.05 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.20 annualized dividend and a yield of 5.87%. Safe Bulkers’s dividend payout ratio (DPR) is presently 22.22%.

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.