Artemis Investment Management LLP reduced its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 61.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 317,102 shares of the shipping company's stock after selling 508,000 shares during the quarter. Artemis Investment Management LLP owned about 0.38% of Star Bulk Carriers worth $4,741,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Adams Asset Advisors LLC purchased a new position in shares of Star Bulk Carriers in the 4th quarter valued at approximately $1,495,000. Sunbelt Securities Inc. purchased a new stake in Star Bulk Carriers during the 3rd quarter valued at about $57,000. Geode Capital Management LLC raised its stake in shares of Star Bulk Carriers by 359.3% in the third quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company's stock worth $10,833,000 after purchasing an additional 357,720 shares during the last quarter. Barclays PLC lifted its holdings in shares of Star Bulk Carriers by 7,313.4% during the third quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock worth $10,784,000 after purchasing an additional 449,113 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Star Bulk Carriers in the third quarter valued at approximately $1,731,000. 33.91% of the stock is owned by institutional investors and hedge funds.
Star Bulk Carriers Price Performance
NASDAQ SBLK traded down $0.04 during trading hours on Monday, reaching $14.68. The company's stock had a trading volume of 2,058,959 shares, compared to its average volume of 1,633,188. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 4.96, a P/E/G ratio of 4.57 and a beta of 0.98. The company's 50-day moving average is $16.47 and its two-hundred day moving average is $19.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.69 and a quick ratio of 1.50. Star Bulk Carriers Corp. has a 1-year low of $14.37 and a 1-year high of $27.47.
Star Bulk Carriers Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, December 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 16.35%. Star Bulk Carriers's dividend payout ratio (DPR) is 81.08%.
Analyst Ratings Changes
Several analysts have commented on the stock. Stifel Nicolaus cut shares of Star Bulk Carriers from a "buy" rating to a "hold" rating and decreased their price objective for the company from $30.00 to $21.00 in a research note on Wednesday, October 23rd. StockNews.com raised shares of Star Bulk Carriers from a "hold" rating to a "buy" rating in a report on Friday, December 20th. Jefferies Financial Group reiterated a "buy" rating and set a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. Finally, DNB Markets upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating and upped their price objective for the stock from $19.30 to $20.20 in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Star Bulk Carriers currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.80.
Check Out Our Latest Report on SBLK
Star Bulk Carriers Company Profile
(
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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