Boston Partners cut its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 158,884 shares of the shipping company's stock after selling 28,901 shares during the period. Boston Partners owned 0.19% of Star Bulk Carriers worth $2,375,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Quarry LP boosted its position in Star Bulk Carriers by 39.8% during the third quarter. Quarry LP now owns 2,365 shares of the shipping company's stock valued at $56,000 after purchasing an additional 673 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Star Bulk Carriers by 4.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 18,422 shares of the shipping company's stock valued at $275,000 after buying an additional 826 shares in the last quarter. Blue Trust Inc. grew its position in shares of Star Bulk Carriers by 51.3% in the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock worth $46,000 after buying an additional 1,038 shares during the last quarter. Sigma Planning Corp lifted its position in Star Bulk Carriers by 4.9% during the fourth quarter. Sigma Planning Corp now owns 22,482 shares of the shipping company's stock valued at $336,000 after acquiring an additional 1,060 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in Star Bulk Carriers by 8.3% in the fourth quarter. DAVENPORT & Co LLC now owns 14,129 shares of the shipping company's stock valued at $211,000 after acquiring an additional 1,083 shares in the last quarter. Institutional investors own 33.91% of the company's stock.
Wall Street Analysts Forecast Growth
SBLK has been the topic of a number of recent analyst reports. StockNews.com downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Jefferies Financial Group reduced their target price on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $22.05.
View Our Latest Report on SBLK
Star Bulk Carriers Stock Performance
Shares of SBLK traded down $0.09 during trading hours on Wednesday, reaching $16.12. 1,035,933 shares of the company traded hands, compared to its average volume of 1,827,871. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average price of $15.65 and a 200-day moving average price of $17.62. Star Bulk Carriers Corp. has a 12-month low of $14.30 and a 12-month high of $27.47. The stock has a market capitalization of $1.35 billion, a P/E ratio of 5.62 and a beta of 1.03.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.08). Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The firm had revenue of $308.92 million for the quarter, compared to analysts' expectations of $230.91 million. Equities analysts anticipate that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.
Star Bulk Carriers Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.23%. The ex-dividend date was Tuesday, March 4th. Star Bulk Carriers's payout ratio is 12.54%.
About Star Bulk Carriers
(
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.
Read More
Before you consider Star Bulk Carriers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Star Bulk Carriers wasn't on the list.
While Star Bulk Carriers currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
