Charles Schwab Investment Management Inc. cut its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 49.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,441 shares of the shipping company's stock after selling 80,662 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.10% of Star Bulk Carriers worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Quarry LP lifted its holdings in shares of Star Bulk Carriers by 39.8% during the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company's stock worth $56,000 after acquiring an additional 673 shares during the period. Blue Trust Inc. increased its position in Star Bulk Carriers by 51.3% during the fourth quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock worth $46,000 after purchasing an additional 1,038 shares during the last quarter. Sigma Planning Corp raised its stake 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 worth $336,000 after purchasing an additional 1,060 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of Star Bulk Carriers by 8.3% in the 4th quarter. DAVENPORT & Co LLC now owns 14,129 shares of the shipping company's stock valued at $211,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Guidance Capital Inc. grew its stake in shares of Star Bulk Carriers by 6.1% during the 4th quarter. Guidance Capital Inc. now owns 25,103 shares of the shipping company's stock valued at $372,000 after buying an additional 1,434 shares during the period. 33.91% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SBLK has been the topic of several research reports. Jefferies Financial Group cut 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. StockNews.com lowered Star Bulk Carriers from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Star Bulk Carriers has an average rating of "Hold" and a consensus price target of $22.05.
Read Our Latest Analysis on Star Bulk Carriers
Star Bulk Carriers Stock Down 0.4 %
NASDAQ:SBLK traded down $0.07 during mid-day trading on Wednesday, hitting $15.65. The company had a trading volume of 1,222,276 shares, compared to its average volume of 1,849,418. The business has a fifty day simple moving average of $15.78 and a 200-day simple moving average of $17.44. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 5.45 and a beta of 1.03. Star Bulk Carriers Corp. has a 1 year low of $14.30 and a 1 year high of $27.47. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its earnings results on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.08). The company had revenue of $308.92 million for the quarter, compared to analysts' expectations of $230.91 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. Equities analysts forecast that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.
Star Bulk Carriers Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.09 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.36 annualized dividend and a dividend yield of 2.30%. Star Bulk Carriers's dividend payout ratio (DPR) is presently 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.
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