Safe Bulkers (NYSE:SB) Downgraded by StockNews.com to Hold

Safe Bulkers (NYSE:SB) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Jefferies Financial Group restated a “buy” rating and issued a $6.00 price target on shares of Safe Bulkers in a research report on Thursday, November 14th.

Safe Bulkers Stock Up 0.3 %

Shares of NYSE SB opened at $3.51 on Friday. The business has a fifty day moving average of $4.10 and a two-hundred day moving average of $4.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.34 and a current ratio of 1.34. Safe Bulkers has a 52-week low of $3.40 and a 52-week high of $6.33. The stock has a market cap of $374.79 million, a PE ratio of 3.90 and a beta of 0.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its position in shares of 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 acquiring an additional 380,270 shares during the last quarter. American Century Companies Inc. raised its holdings in Safe Bulkers by 9.8% during the 2nd quarter. American Century Companies Inc. now owns 1,765,187 shares of the shipping company’s stock worth $10,273,000 after purchasing an additional 157,163 shares during the last quarter. State Street Corp lifted its position in Safe Bulkers by 1.8% during the 3rd quarter. State Street Corp now owns 1,653,002 shares of the shipping company’s stock valued at $8,563,000 after purchasing an additional 29,178 shares during the period. LSV Asset Management boosted its stake in shares of Safe Bulkers by 440.7% in the 2nd quarter. LSV Asset Management now owns 552,357 shares of the shipping company’s stock valued at $3,215,000 after purchasing an additional 450,209 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Safe Bulkers by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 519,967 shares of the shipping company’s stock worth $2,693,000 after buying an additional 26,398 shares during the period. Institutional investors and hedge funds own 21.69% of the company’s stock.

About Safe Bulkers

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.