Safe Bulkers, Inc. (NYSE:SB) Shares Sold by Morgan Stanley

Morgan Stanley reduced its position in shares of Safe Bulkers, Inc. (NYSE:SB) by 36.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 135,730 shares of the shipping company’s stock after selling 79,376 shares during the quarter. Morgan Stanley’s holdings in Safe Bulkers were worth $212,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in Safe Bulkers by 4.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 160,140 shares of the shipping company’s stock worth $250,000 after purchasing an additional 7,065 shares during the last quarter. BlackRock Inc. increased its position in shares of Safe Bulkers by 0.4% during the second quarter. BlackRock Inc. now owns 2,561,522 shares of the shipping company’s stock valued at $3,996,000 after acquiring an additional 9,360 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Safe Bulkers by 19.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 110,082 shares of the shipping company’s stock valued at $172,000 after acquiring an additional 18,302 shares during the last quarter. Northern Trust Corp increased its position in shares of Safe Bulkers by 6.2% during the second quarter. Northern Trust Corp now owns 454,723 shares of the shipping company’s stock valued at $710,000 after acquiring an additional 26,368 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Safe Bulkers during the second quarter valued at about $48,000. Hedge funds and other institutional investors own 15.00% of the company’s stock.

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Shares of SB opened at $1.61 on Friday. Safe Bulkers, Inc. has a 1-year low of $1.28 and a 1-year high of $2.38. The stock has a market cap of $170.13 million, a PE ratio of 14.00 and a beta of 1.60. The firm has a 50-day simple moving average of $1.78 and a two-hundred day simple moving average of $1.78. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.35 and a quick ratio of 1.35.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Thursday, October 24th. The shipping company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Safe Bulkers had a net margin of 11.05% and a return on equity of 4.92%. The company had revenue of $47.13 million for the quarter, compared to analyst estimates of $48.67 million. As a group, sell-side analysts expect that Safe Bulkers, Inc. will post 0.1 earnings per share for the current fiscal year.

SB has been the subject of a number of recent analyst reports. ValuEngine cut shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Zacks Investment Research upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Safe Bulkers Profile

Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 14, 2019, the company had a fleet of 41 drybulk vessels having an average age of 8.5 years; and an aggregate carrying capacity of 3.8 million deadweight tons.

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