Amundi Grows Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Amundi increased its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 48.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,174,566 shares of the shipping company's stock after purchasing an additional 385,980 shares during the period. Amundi owned 1.40% of Star Bulk Carriers worth $17,454,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Philosophy Capital Management LLC bought a new stake in Star Bulk Carriers during the third quarter valued at about $24,842,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Star Bulk Carriers during the third quarter valued at about $17,137,000. Barclays PLC increased its holdings in shares of Star Bulk Carriers by 7,313.4% in the third quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock worth $10,784,000 after purchasing an additional 449,113 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Star Bulk Carriers by 152.2% in the third quarter. Stifel Financial Corp now owns 685,053 shares of the shipping company's stock worth $16,229,000 after buying an additional 413,423 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Star Bulk Carriers by 359.3% during the third quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company's stock valued at $10,833,000 after buying an additional 357,720 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company's stock.

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Analysts Set New Price Targets

A number of analysts have issued reports on SBLK shares. StockNews.com downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. DNB Markets upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating and boosted their price target for the stock from $19.30 to $20.20 in a research report on Thursday, November 21st. Finally, Jefferies Financial Group lowered their price objective on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $22.05.

Star Bulk Carriers Trading Down 0.3 %

Shares of NASDAQ SBLK traded down $0.05 during trading hours on Monday, hitting $16.55. 2,399,596 shares of the company traded hands, compared to its average volume of 1,830,448. The company's 50 day moving average price is $15.41 and its 200 day moving average price is $17.83. Star Bulk Carriers Corp. has a 12 month low of $14.30 and a 12 month high of $27.47. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 5.77 and a beta of 1.03. 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 posted its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.08). The firm had revenue of $308.92 million for 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%. On average, equities research analysts anticipate that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.18%. The ex-dividend date is Tuesday, March 4th. Star Bulk Carriers's payout ratio is currently 12.54%.

Star Bulk Carriers Company 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.