Connor Clark & Lunn Investment Management Ltd. Trims Stock Holdings in Safe Bulkers, Inc. (NYSE:SB)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Safe Bulkers, Inc. (NYSE:SBGet Rating) by 12.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 484,389 shares of the shipping company’s stock after selling 71,133 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.41% of Safe Bulkers worth $1,826,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. American International Group Inc. grew its stake in shares of Safe Bulkers by 10.7% in the third quarter. American International Group Inc. now owns 34,069 shares of the shipping company’s stock worth $176,000 after acquiring an additional 3,304 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Safe Bulkers by 16.3% in the third quarter. Voya Investment Management LLC now owns 24,749 shares of the shipping company’s stock worth $128,000 after acquiring an additional 3,460 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Safe Bulkers by 0.7% in the third quarter. Geode Capital Management LLC now owns 703,254 shares of the shipping company’s stock worth $3,635,000 after acquiring an additional 4,576 shares during the last quarter. Citigroup Inc. grew its stake in shares of Safe Bulkers by 176.5% in the third quarter. Citigroup Inc. now owns 7,219 shares of the shipping company’s stock worth $37,000 after acquiring an additional 4,608 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Safe Bulkers by 73.6% in the third quarter. BNP Paribas Arbitrage SA now owns 20,440 shares of the shipping company’s stock worth $106,000 after acquiring an additional 8,663 shares during the last quarter. 24.94% of the stock is currently owned by institutional investors.

NYSE:SB opened at $4.03 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. Safe Bulkers, Inc. has a 12-month low of $2.98 and a 12-month high of $5.44. The stock has a 50-day moving average price of $4.34 and a 200 day moving average price of $4.00. The stock has a market capitalization of $490.21 million, a P/E ratio of 2.88 and a beta of 0.72.

Safe Bulkers (NYSE:SBGet Rating) last released its earnings results on Wednesday, March 9th. The shipping company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $91.97 million for the quarter, compared to analysts’ expectations of $91.15 million. Safe Bulkers had a return on equity of 26.49% and a net margin of 52.99%. During the same quarter in the prior year, the business posted $0.04 EPS. On average, research analysts predict that Safe Bulkers, Inc. will post 1.3 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 28th. Investors of record on Monday, March 21st were paid a dividend of $0.05 per share. This is a positive change from Safe Bulkers’s previous quarterly dividend of $0.01. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Friday, March 18th. Safe Bulkers’s dividend payout ratio (DPR) is currently 3.57%.

SB has been the topic of a number of recent research reports. Zacks Investment Research raised Safe Bulkers from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a research note on Tuesday, March 29th. Jefferies Financial Group assumed coverage on Safe Bulkers in a research report on Wednesday, April 27th. They set a “hold” rating on the stock. Finally, StockNews.com assumed coverage on Safe Bulkers in a research report on Thursday, March 31st. They set a “buy” rating on the stock.

Safe Bulkers Company Profile (Get Rating)

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. As of March 18, 2022, the company had a fleet of 40 drybulk vessels having an average age of 10.4 years; and an aggregate carrying capacity of 3,925,500 deadweight tons.

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

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