Safe Bulkers (SB)
Safe Bulkers (SB) is based in Greece and ships commodities such as goal, grain and iron ore all over the world. The company recently posted a positive earnings surprise and raised its dividend as business continues to improve along with the economy. SB has used the industry weakness to expand its fleet during the downturn and has grown the fleet from 11 vessels in 2008 to more than 31 dry bulk cargo ships as of today. The company recently completed a stock offering to fund the purchase of 10 additional vessels while prices are still low for new vessels.
The continued fundamental improvement was noted by Portfolio Grader, and SB stock was upgraded to an “A” in November. At the current price, SB remains a “strong buy.”