Franklin Resources Inc. grew its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 161.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,512 shares of the shipping company's stock after acquiring an additional 32,392 shares during the period. Franklin Resources Inc. owned about 0.06% of Star Bulk Carriers worth $785,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Star Bulk Carriers during the 4th quarter valued at approximately $28,000. Parkside Financial Bank & Trust bought a new position in Star Bulk Carriers in the 4th quarter valued at $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 worth $39,000 after purchasing an additional 1,676 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Star Bulk Carriers during the fourth quarter valued at $45,000. Finally, Blue Trust Inc. grew its holdings in shares of Star Bulk Carriers by 51.3% in 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. Hedge funds and other institutional investors own 33.91% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on SBLK. Jefferies Financial Group dropped their target price on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a research note 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $22.05.
Read Our Latest Report on Star Bulk Carriers
Star Bulk Carriers Stock Performance
Shares of SBLK stock traded up $0.01 during trading hours on Tuesday, hitting $13.60. The company's stock had a trading volume of 48,814 shares, compared to its average volume of 2,135,032. The company has a 50 day moving average of $15.25 and a 200 day moving average of $16.51. The stock has a market cap of $1.60 billion, a PE ratio of 4.74 and a beta of 0.77. Star Bulk Carriers Corp. has a 12-month low of $12.06 and a 12-month 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 released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $230.91 million. On average, sell-side analysts forecast that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.
Star Bulk Carriers Cuts Dividend
The company 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. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.36 annualized dividend and a yield of 2.65%. Star Bulk Carriers's dividend payout ratio (DPR) is currently 12.54%.
Star Bulk Carriers Company Profile
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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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