Wed Sep 25 07:19:13 UTC 2024: ## Victory Capital Management Invests in Safe Bulkers, Inc.
**New York, NY (MarketBeat News)** – Victory Capital Management Inc. has purchased a new stake in Safe Bulkers, Inc. (NYSE:SB) during the second quarter, according to the company’s recent 13F filing with the SEC. The fund acquired 17,939 shares of the shipping company, valued at approximately $104,000.
This investment comes amidst growing interest from institutional investors in Safe Bulkers. Acadian Asset Management LLC increased its position by 135.2% in the first quarter, now holding 1,898,533 shares valued at $9,408,000. Other investors like Vanguard Group Inc., Los Angeles Capital Management LLC, Empowered Funds LLC, and Russell Investments Group Ltd. also boosted their holdings in the company during the first quarter.
Safe Bulkers operates a fleet of 47 drybulk vessels, transporting commodities like coal, grain, and iron ore. The company recently declared a quarterly dividend of $0.05 per share, representing an annualized dividend of $0.20 and a yield of 3.89%.
Safe Bulkers opened at $5.14 on Wednesday, with a 1-year low of $3.10 and a 1-year high of $6.33. The company has a market capitalization of $548.77 million and a price-to-earnings ratio of 7.56.
The growing interest from institutional investors suggests confidence in Safe Bulkers’ future prospects within the drybulk shipping industry.
First Piper 