Connor Clark & Lunn Investment Management Ltd. Sells 59,425 Shares of Safe Bulkers, Inc. (NYSE:SB)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Safe Bulkers, Inc. (NYSE:SB) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 805,137 shares of the shipping company’s stock after selling 59,425 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Safe Bulkers were worth $4,171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. nVerses Capital LLC lifted its holdings in shares of Safe Bulkers by 269.0% during the 3rd quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock valued at $55,000 after buying an additional 7,800 shares during the period. Banque Cantonale Vaudoise boosted its position in Safe Bulkers by 14.4% in the second quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock worth $98,000 after purchasing an additional 2,129 shares during the last quarter. Aigen Investment Management LP purchased a new position in Safe Bulkers in the third quarter worth about $90,000. Victory Capital Management Inc. bought a new stake in shares of Safe Bulkers during the 2nd quarter valued at about $104,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of 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 purchasing an additional 4,129 shares during the last quarter. Institutional investors own 21.69% of the company’s stock.

Safe Bulkers Stock Up 1.2 %

SB stock opened at $4.17 on Friday. The business’s 50-day moving average price is $4.58 and its 200-day moving average price is $5.12. The stock has a market cap of $445.27 million, a P/E ratio of 4.63 and a beta of 0.95. The company has a quick ratio of 2.11, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. Safe Bulkers, Inc. has a twelve month low of $3.45 and a twelve month high of $6.33.

Safe Bulkers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Monday, December 2nd will be given a $0.05 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.80%. Safe Bulkers’s payout ratio is currently 22.22%.

Analyst Ratings Changes

Several brokerages recently issued reports on SB. StockNews.com lowered shares of Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Jefferies Financial Group restated a “buy” rating and issued a $6.00 price objective on shares of Safe Bulkers in a research note on Thursday, November 14th.

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.