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

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Safe Bulkers, Inc. (NYSE:SB) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,140 shares of the shipping company’s stock after purchasing an additional 7,065 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of Safe Bulkers worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Geode Capital Management LLC lifted its stake in Safe Bulkers by 16.3% in the fourth quarter. Geode Capital Management LLC now owns 248,319 shares of the shipping company’s stock valued at $441,000 after buying an additional 34,889 shares during the period. 14.90% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on the company. ValuEngine raised Safe Bulkers from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 5th. Zacks Investment Research lowered Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Saturday, September 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $3.63.

NYSE:SB traded up $0.03 during trading on Friday, reaching $2.19. The company’s stock had a trading volume of 10,070 shares, compared to its average volume of 311,354. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market cap of $220.77 million, a price-to-earnings ratio of 12.82 and a beta of 1.66. Safe Bulkers, Inc. has a 12 month low of $1.28 and a 12 month high of $3.05. The firm has a 50 day moving average of $1.92 and a 200-day moving average of $1.68.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings results on Tuesday, September 3rd. The shipping company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). The firm had revenue of $45.52 million for the quarter, compared to the consensus estimate of $45.65 million. Safe Bulkers had a return on equity of 5.45% and a net margin of 12.51%. Equities research analysts forecast that Safe Bulkers, Inc. will post 0.09 earnings per share for the current fiscal year.

About Safe Bulkers

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.

Read More: Average Daily Trade Volume – ADTV

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

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