Ramirez Asset Management Inc. decreased its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 424,288 shares of the shipping company's stock after selling 45,400 shares during the period. Star Bulk Carriers comprises about 1.3% of Ramirez Asset Management Inc.'s holdings, making the stock its 18th largest position. Ramirez Asset Management Inc. owned approximately 0.50% of Star Bulk Carriers worth $6,343,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich bought a new position in Star Bulk Carriers in the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust purchased a new position in shares of Star Bulk Carriers in the fourth quarter valued at $30,000. Steward Partners Investment Advisory LLC raised its stake in shares of 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 valued at $39,000 after purchasing an additional 1,676 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in Star Bulk Carriers during the 4th quarter worth about $45,000. Finally, Blue Trust Inc. increased its position in shares of Star Bulk Carriers by 51.3% during the fourth 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. Institutional investors own 33.91% of the company's stock.
Star Bulk Carriers Trading Up 1.0 %
Shares of SBLK stock traded up $0.16 on Tuesday, hitting $15.72. 551,034 shares of the company's stock traded hands, compared to its average volume of 1,851,872. The company's fifty day simple moving average is $15.73 and its 200 day simple moving average is $17.49. 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 one year low of $14.30 and a one year high of $27.47. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 5.49 and a beta of 1.03.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $308.92 million during the quarter, compared to analysts' expectations of $230.91 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. Equities analysts forecast that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.
Star Bulk Carriers Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Tuesday, March 4th. Star Bulk Carriers's dividend payout ratio (DPR) is currently 12.54%.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on SBLK shares. Jefferies Financial Group lowered their price objective on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. StockNews.com lowered shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $22.05.
Check Out Our Latest 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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