Adams Asset Advisors LLC bought a new stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 100,000 shares of the shipping company's stock, valued at approximately $1,495,000. Adams Asset Advisors LLC owned about 0.12% of Star Bulk Carriers at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP grew its holdings in Star Bulk Carriers by 39.8% in the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company's stock worth $56,000 after buying an additional 673 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of Star Bulk Carriers by 2.8% during the third quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company's stock valued at $773,000 after purchasing an additional 890 shares during the period. Blue Trust Inc. raised its stake in shares of Star Bulk Carriers by 190.5% during the third quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company's stock valued at $49,000 after purchasing an additional 1,328 shares in the last quarter. Avior Wealth Management LLC grew its position in Star Bulk Carriers by 26.4% in the 3rd quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company's stock valued at $157,000 after buying an additional 1,385 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in Star Bulk Carriers by 22.1% during the 3rd quarter. Private Advisor Group LLC now owns 11,882 shares of the shipping company's stock valued at $281,000 after buying an additional 2,152 shares during the period. 33.91% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
SBLK has been the topic of several research reports. DNB Markets upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating and boosted their price target for the stock from $19.30 to $20.20 in a research report on Thursday, November 21st. StockNews.com raised shares of Star Bulk Carriers from a "hold" rating to a "buy" rating in a research note on Friday, December 20th. Jefferies Financial Group restated a "buy" rating and issued a $28.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus lowered Star Bulk Carriers from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.80.
Get Our Latest Analysis on SBLK
Star Bulk Carriers Stock Performance
Shares of SBLK stock traded down $0.07 during trading hours on Monday, reaching $15.18. 1,815,384 shares of the company's stock were exchanged, compared to its average volume of 1,948,312. The business has a fifty day moving average price of $16.94 and a 200-day moving average price of $20.12. The stock has a market capitalization of $1.28 billion, a P/E ratio of 5.13, a P/E/G ratio of 3.95 and a beta of 0.98. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44. Star Bulk Carriers Corp. has a fifty-two week low of $14.37 and a fifty-two week high of $27.47.
Star Bulk Carriers Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Thursday, December 5th were paid a $0.60 dividend. The ex-dividend date was Thursday, December 5th. This represents a $2.40 dividend on an annualized basis and a yield of 15.81%. Star Bulk Carriers's payout ratio is currently 81.08%.
Star Bulk Carriers Company Profile
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Free Report)
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.
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