KLP Kapitalforvaltning AS purchased a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 85,000 shares of the shipping company's stock, valued at approximately $1,271,000. KLP Kapitalforvaltning AS owned about 0.10% of Star Bulk Carriers at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Star Bulk Carriers during the 4th quarter worth $28,000. Parkside Financial Bank & Trust bought a new stake in Star Bulk Carriers during the fourth quarter worth about $30,000. Steward Partners Investment Advisory LLC lifted its position in Star Bulk Carriers by 177.0% during 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. Blue Trust Inc. raised 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 valued at $46,000 after buying an additional 1,038 shares in the last quarter. Finally, Quarry LP raised its position in shares of Star Bulk Carriers by 39.8% in the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company's stock valued at $56,000 after buying an additional 673 shares in the last quarter. 33.91% of the stock is owned by institutional investors and hedge funds.
Star Bulk Carriers Trading Down 2.6 %
Shares of NASDAQ:SBLK traded down $0.42 during midday trading on Monday, hitting $15.56. 1,185,322 shares of the stock were exchanged, compared to its average volume of 1,856,939. The business's 50-day moving average price is $15.71 and its 200 day moving average price is $17.53. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 5.42 and a beta of 1.03. Star Bulk Carriers Corp. has a 12 month low of $14.30 and a 12 month high of $27.47. 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 (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.08). The business had revenue of $308.92 million during the quarter, compared to analyst estimates of $230.91 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. Analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.
Star Bulk Carriers Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a $0.09 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.31%. Star Bulk Carriers's dividend payout ratio (DPR) is presently 12.54%.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on SBLK. Jefferies Financial Group decreased their price target on 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 cut Star Bulk Carriers from a "buy" rating to a "hold" rating in a research 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.05.
Read Our Latest Research Report on SBLK
Star Bulk Carriers 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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