Dynamic Technology Lab Private Ltd purchased a new stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 66,205 shares of the shipping company's stock, valued at approximately $990,000. Dynamic Technology Lab Private Ltd owned about 0.08% of Star Bulk Carriers at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Star Bulk Carriers in the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust purchased a new position in shares of Star Bulk Carriers in the fourth quarter valued at approximately $30,000. Steward Partners Investment Advisory LLC increased its stake in Star Bulk Carriers by 177.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock worth $39,000 after buying an additional 1,676 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in Star Bulk Carriers during the 4th quarter worth approximately $45,000. Finally, Blue Trust Inc. boosted its position in Star Bulk Carriers by 51.3% in the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock valued at $46,000 after buying an additional 1,038 shares during the period. 33.91% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have issued reports on SBLK. StockNews.com lowered Star Bulk Carriers from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Jefferies Financial Group reduced their price objective on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $22.05.
Check Out Our Latest Stock Analysis on Star Bulk Carriers
Star Bulk Carriers Stock Up 6.2 %
SBLK stock traded up $0.82 during midday trading on Friday, reaching $13.99. 465,885 shares of the company were exchanged, compared to its average volume of 1,869,381. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 4.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $27.47. The stock's 50-day simple moving average is $15.50 and its 200 day simple moving average is $17.01.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly 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). Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. The company had revenue of $308.92 million for the quarter, compared to analyst estimates of $230.91 million. On average, equities analysts forecast that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current 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 issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Tuesday, March 4th. Star Bulk Carriers's payout ratio is currently 12.54%.
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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