Koss Olinger Consulting LLC Makes New $99,000 Investment in Safe Bulkers, Inc. (NYSE:SB)

Koss Olinger Consulting LLC bought a new position in Safe Bulkers, Inc. (NYSE:SB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 27,700 shares of the shipping company’s stock, valued at approximately $99,000.

Several other hedge funds have also added to or reduced their stakes in SB. Victory Capital Management Inc. lifted 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 purchasing an additional 21,619 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Safe Bulkers by 5.3% during the third quarter. Empowered Funds LLC now owns 519,967 shares of the shipping company’s stock valued at $2,693,000 after purchasing an additional 26,398 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Safe Bulkers during the third quarter valued at $1,480,000. Intech Investment Management LLC bought a new position in shares of Safe Bulkers during the third quarter valued at $86,000. Finally, Walleye Capital LLC bought a new position in shares of Safe Bulkers during the third quarter valued at $1,109,000. 21.69% of the stock is owned by institutional investors.

Safe Bulkers Stock Up 2.5 %

Safe Bulkers stock opened at $3.86 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.91. The stock has a fifty day moving average of $3.64 and a 200 day moving average of $4.05. The stock has a market cap of $405.93 million, a PE ratio of 4.64 and a beta of 0.94. Safe Bulkers, Inc. has a one year low of $3.31 and a one year high of $6.33.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $69.16 million during the quarter, compared to analysts’ expectations of $71.90 million. Safe Bulkers had a return on equity of 10.04% and a net margin of 31.65%. As a group, sell-side analysts predict that Safe Bulkers, Inc. will post 0.62 EPS for the current year.

Safe Bulkers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 3rd will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Monday, March 3rd. Safe Bulkers’s payout ratio is 24.10%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. DNB Markets raised Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.20 price target on the stock in a report on Monday, January 27th. Jefferies Financial Group reiterated a “buy” rating and set a $6.00 price objective on shares of Safe Bulkers in a research report on Wednesday, February 19th. StockNews.com cut Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Finally, Loop Capital set a $4.20 price objective on Safe Bulkers in a research report on Monday, January 27th.

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.