FIL Ltd lessened its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 17.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 344,154 shares of the shipping company's stock after selling 72,949 shares during the quarter. FIL Ltd owned approximately 0.41% of Star Bulk Carriers worth $5,145,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of SBLK. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Star Bulk Carriers in the 4th quarter valued at $28,000. Parkside Financial Bank & Trust acquired a new stake in shares of Star Bulk Carriers during the 4th quarter valued at about $30,000. Steward Partners Investment Advisory LLC increased its stake in Star Bulk Carriers by 177.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock valued at $39,000 after acquiring an additional 1,676 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Star Bulk Carriers in the fourth quarter worth about $45,000. Finally, Blue Trust Inc. lifted its stake 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 period. 33.91% of the stock is currently owned by institutional investors.
Star Bulk Carriers Stock Up 8.1 %
NASDAQ SBLK opened at $14.24 on Friday. The stock's 50 day simple moving average is $15.47 and its 200 day simple moving average is $16.95. Star Bulk Carriers Corp. has a one year low of $12.06 and a one year high of $27.47. The firm has a market cap of $1.68 billion, a PE ratio of 4.96 and a beta of 0.77. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.08). The business had revenue of $308.92 million during the quarter, compared to the consensus estimate of $230.91 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. As a group, sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.53%. The ex-dividend date was Tuesday, March 4th. Star Bulk Carriers's dividend payout ratio (DPR) is presently 12.54%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on SBLK shares. Jefferies Financial Group dropped their target price on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. StockNews.com cut Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Three equities 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, the company currently has a consensus rating of "Hold" and an average target price of $22.05.
View Our Latest Analysis on Star Bulk Carriers
Star Bulk Carriers 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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