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

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Safe Bulkers, Inc. (NYSE:SB) by 6.9% in the 3rd quarter, according to its most recent disclosure 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. owned 0.75% of Safe Bulkers worth $4,171,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SB. Acadian Asset Management LLC raised its holdings in Safe Bulkers by 20.0% during the 2nd quarter. Acadian Asset Management LLC now owns 2,278,803 shares of the shipping company’s stock valued at $13,251,000 after buying an additional 380,270 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Safe Bulkers by 9.8% during the second quarter. American Century Companies Inc. now owns 1,765,187 shares of the shipping company’s stock valued at $10,273,000 after acquiring an additional 157,163 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Safe Bulkers by 6.2% during the first quarter. Vanguard Group Inc. now owns 655,429 shares of the shipping company’s stock worth $3,251,000 after purchasing an additional 38,162 shares during the period. LSV Asset Management increased its holdings in Safe Bulkers by 440.7% during the 2nd quarter. LSV Asset Management now owns 552,357 shares of the shipping company’s stock valued at $3,215,000 after purchasing an additional 450,209 shares during the period. Finally, Empowered Funds LLC increased its holdings in Safe Bulkers by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 519,967 shares of the shipping company’s stock valued at $2,693,000 after purchasing an additional 26,398 shares during the period. Hedge funds and other institutional investors own 21.69% of the company’s stock.

Analyst Upgrades and Downgrades

SB has been the topic of a number of recent analyst reports. StockNews.com lowered 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 report on Thursday, November 14th.

Safe Bulkers Stock Up 1.2 %

Shares of Safe Bulkers stock opened at $4.17 on Friday. Safe Bulkers, Inc. has a 1 year low of $3.45 and a 1 year high of $6.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 2.11. The company has a 50-day moving average of $4.58 and a 200 day moving average of $5.12. The firm has a market cap of $445.27 million, a price-to-earnings ratio of 4.63 and a beta of 0.95.

Safe Bulkers Announces Dividend

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

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.