Safe Bulkers (NYSE:SB) Stock Rating Lowered by StockNews.com

Safe Bulkers (NYSE:SB) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Safe Bulkers Stock Up 1.4 %

Shares of NYSE SB traded up $0.06 during mid-day trading on Wednesday, reaching $4.41. 472,056 shares of the company’s stock were exchanged, compared to its average volume of 665,943. The firm has a market capitalization of $470.86 million, a price-to-earnings ratio of 5.51 and a beta of 0.95. Safe Bulkers has a twelve month low of $3.26 and a twelve month high of $6.33. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $4.63 and a 200 day simple moving average of $5.16.

Institutional Trading of Safe Bulkers

Institutional investors and hedge funds have recently made changes to their positions in the company. Banque Cantonale Vaudoise grew its stake in shares of Safe Bulkers by 14.4% during the second quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock valued at $98,000 after buying an additional 2,129 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Safe Bulkers by 26.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,945 shares of the shipping company’s stock valued at $99,000 after buying an additional 4,129 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Safe Bulkers by 27.9% in the second quarter. Cubist Systematic Strategies LLC now owns 25,567 shares of the shipping company’s stock worth $149,000 after buying an additional 5,572 shares during the last quarter. Principal Financial Group Inc. increased its position in Safe Bulkers by 10.3% in the second quarter. Principal Financial Group Inc. now owns 64,745 shares of the shipping company’s stock worth $377,000 after buying an additional 6,056 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Safe Bulkers by 14.8% in the 1st quarter. Tidal Investments LLC now owns 50,203 shares of the shipping company’s stock worth $249,000 after buying an additional 6,457 shares in the last quarter. Hedge funds and other institutional investors own 21.69% of the company’s stock.

Safe Bulkers Company 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.