Lazard Asset Management LLC Acquires 10,078 Shares of Safe Bulkers, Inc. (NYSE:SB)

Lazard Asset Management LLC grew its position in Safe Bulkers, Inc. (NYSE:SBGet Rating) by 74.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,612 shares of the shipping company’s stock after purchasing an additional 10,078 shares during the period. Lazard Asset Management LLC’s holdings in Safe Bulkers were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SB. Yorktown Management & Research Co Inc increased its stake in shares of Safe Bulkers by 18.8% in the third quarter. Yorktown Management & Research Co Inc now owns 115,000 shares of the shipping company’s stock valued at $284,000 after buying an additional 18,200 shares during the period. Russell Investments Group Ltd. boosted its holdings in Safe Bulkers by 411.7% during the second quarter. Russell Investments Group Ltd. now owns 40,908 shares of the shipping company’s stock worth $156,000 after purchasing an additional 32,914 shares during the last quarter. SG Americas Securities LLC bought a new stake in Safe Bulkers in the 2nd quarter worth about $68,000. Prudential Financial Inc. grew its position in Safe Bulkers by 189.2% in the 3rd quarter. Prudential Financial Inc. now owns 139,415 shares of the shipping company’s stock worth $344,000 after purchasing an additional 91,200 shares in the last quarter. Finally, Raymond James & Associates bought a new position in shares of Safe Bulkers during the 3rd quarter valued at approximately $75,000. Institutional investors and hedge funds own 25.95% of the company’s stock.

Safe Bulkers Stock Down 0.5 %

NYSE SB opened at $3.64 on Wednesday. The company has a market capitalization of $442.77 million, a P/E ratio of 2.66 and a beta of 0.91. The stock has a 50 day moving average price of $3.23 and a 200-day moving average price of $3.00. Safe Bulkers, Inc. has a one year low of $2.35 and a one year high of $5.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.20 and a current ratio of 1.73.

Safe Bulkers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Wednesday, March 1st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.20 annualized dividend and a yield of 5.49%. Safe Bulkers’s dividend payout ratio (DPR) is presently 14.60%.

Analyst Ratings Changes

SB has been the topic of several recent analyst reports. StockNews.com upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating in a research note on Tuesday, February 28th. Citigroup lowered their price target on Safe Bulkers from $3.50 to $2.85 in a research report on Sunday, November 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $3.00 price objective on shares of Safe Bulkers in a research report on Thursday, February 16th.

Safe Bulkers Profile

(Get Rating)

Safe Bulkers, Inc provides international marine drybulk transportation services. The firm offers transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. The company was founded on December 11, 2007 and is headquartered in Les Acanthes, Monaco.

See Also

Want to see what other hedge funds are holding SB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Safe Bulkers, Inc. (NYSE:SBGet Rating).

Institutional Ownership by Quarter for Safe Bulkers (NYSE:SB)

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