Public Employees Retirement System of Ohio Buys Shares of 73,083 Star Bulk Carriers Corp. (NASDAQ:SBLK)

Public Employees Retirement System of Ohio acquired a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 73,083 shares of the shipping company's stock, valued at approximately $1,731,000. Public Employees Retirement System of Ohio owned approximately 0.09% of Star Bulk Carriers at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SBLK. Quarry LP raised its position in Star Bulk Carriers by 39.8% in the third quarter. Quarry LP now owns 2,365 shares of the shipping company's stock valued at $56,000 after purchasing an additional 673 shares during the period. Ritholtz Wealth Management lifted its position in Star Bulk Carriers by 2.8% during the 3rd quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company's stock worth $773,000 after acquiring an additional 890 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in Star Bulk Carriers by 8.5% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 16,640 shares of the shipping company's stock worth $406,000 after acquiring an additional 1,310 shares during the period. Nisa Investment Advisors LLC acquired a new stake in Star Bulk Carriers in the second quarter valued at approximately $32,000. Finally, Blue Trust Inc. raised its stake in shares of Star Bulk Carriers by 190.5% during the third quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company's stock valued at $49,000 after purchasing an additional 1,328 shares during the period. Hedge funds and other institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Stock Down 1.7 %

Shares of SBLK stock traded down $0.25 during trading hours on Thursday, hitting $14.72. 1,983,949 shares of the company were exchanged, compared to its average volume of 1,673,918. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.69. The business's 50-day simple moving average is $18.45 and its two-hundred day simple moving average is $21.29. Star Bulk Carriers Corp. has a one year low of $14.59 and a one year high of $27.47. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 4.97, a P/E/G ratio of 3.95 and a beta of 0.96.

Star Bulk Carriers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Thursday, December 5th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 16.30%. The ex-dividend date of this dividend was Thursday, December 5th. Star Bulk Carriers's dividend payout ratio (DPR) is presently 81.08%.

Analysts Set New Price Targets

SBLK has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Star Bulk Carriers in a report on Wednesday, September 4th. They set a "buy" rating and a $26.00 price target for the company. DNB Markets upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating and raised their target price for the company from $19.30 to $20.20 in a research note on Thursday, November 21st. StockNews.com cut Star Bulk Carriers from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Jefferies Financial Group restated a "buy" rating and set a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus lowered Star Bulk Carriers from a "buy" rating to a "hold" rating and cut their target price for the company from $30.00 to $21.00 in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Star Bulk Carriers presently has a consensus rating of "Hold" and a consensus target price of $23.80.

Star Bulk Carriers Profile

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.