New York State Common Retirement Fund Grows Stock Position in Safe Bulkers, Inc. (NYSE:SB)

New York State Common Retirement Fund boosted its position in Safe Bulkers, Inc. (NYSE:SB) by 84.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 59,533 shares of the shipping company’s stock after purchasing an additional 27,233 shares during the period. New York State Common Retirement Fund’s holdings in Safe Bulkers were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. increased its position in Safe Bulkers by 1,568.2% in the second quarter. Advisor Group Holdings Inc. now owns 36,700 shares of the shipping company’s stock worth $147,000 after buying an additional 34,500 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Safe Bulkers in the second quarter valued at $523,000. Squarepoint Ops LLC grew its position in shares of Safe Bulkers by 85.6% in the first quarter. Squarepoint Ops LLC now owns 190,986 shares of the shipping company’s stock valued at $468,000 after purchasing an additional 88,059 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Safe Bulkers in the first quarter valued at $52,000. Finally, Millennium Management LLC grew its position in shares of Safe Bulkers by 145.9% in the first quarter. Millennium Management LLC now owns 161,577 shares of the shipping company’s stock valued at $396,000 after purchasing an additional 95,877 shares in the last quarter. 27.70% of the stock is owned by institutional investors and hedge funds.

Safe Bulkers stock opened at $4.26 on Tuesday. Safe Bulkers, Inc. has a 52 week low of $0.82 and a 52 week high of $5.36. The business has a 50-day simple moving average of $3.74 and a 200 day simple moving average of $3.48. The company has a quick ratio of 2.39, a current ratio of 2.53 and a debt-to-equity ratio of 0.81. The stock has a market cap of $509.02 million, a price-to-earnings ratio of 8.69 and a beta of 0.84.

Safe Bulkers (NYSE:SB) last posted its earnings results on Tuesday, July 27th. The shipping company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. Safe Bulkers had a return on equity of 13.41% and a net margin of 26.06%. The business had revenue of $78.15 million during the quarter, compared to analysts’ expectations of $70.27 million. On average, research analysts anticipate that Safe Bulkers, Inc. will post 1.18 earnings per share for the current year.

SB has been the subject of several recent research reports. HC Wainwright initiated coverage on Safe Bulkers in a research report on Monday, September 13th. They issued a “buy” rating and a $6.50 price target for the company. Zacks Investment Research cut Safe Bulkers from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 23rd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $4.19.

Safe Bulkers Company Profile

Safe Bulkers, Inc is a holding company, which engages in the ownership and operation of dry bulk vessels. The firm offers marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain, and iron ore. Its fleet include Panamax, Kamsarmax, Post-Panamax, and Capesize class vessels.

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

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