UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Invests $17.14 Million in Star Bulk Carriers Corp. (NASDAQ:SBLK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 723,400 shares of the shipping company's stock, valued at approximately $17,137,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.86% of Star Bulk Carriers as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nisa Investment Advisors LLC bought a new position in shares of Star Bulk Carriers during the 2nd quarter valued at approximately $32,000. Blue Trust Inc. boosted its position in shares of Star Bulk Carriers by 190.5% in the third quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company's stock worth $49,000 after purchasing an additional 1,328 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Star Bulk Carriers in the second quarter worth $54,000. Point72 DIFC Ltd bought a new stake in shares of Star Bulk Carriers during the 2nd quarter valued at $72,000. Finally, AM Squared Ltd purchased a new position in shares of Star Bulk Carriers during the 3rd quarter valued at $76,000. Hedge funds and other institutional investors own 33.91% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $28.00 price target on shares of Star Bulk Carriers in a report on Wednesday, November 20th. Stifel Nicolaus lowered Star Bulk Carriers from a "buy" rating to a "hold" rating and decreased their price target for the company from $30.00 to $21.00 in a report on Wednesday, October 23rd. DNB Markets upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating and boosted their target price for the company from $19.30 to $20.20 in a research report on Thursday, November 21st. StockNews.com upgraded Star Bulk Carriers from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Star Bulk Carriers in a report on Wednesday, September 4th. They set a "buy" rating and a $26.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Star Bulk Carriers currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.80.

Star Bulk Carriers Trading Down 3.0 %

Shares of NASDAQ SBLK traded down $0.50 during trading hours on Friday, reaching $15.98. The stock had a trading volume of 3,945,906 shares, compared to its average volume of 2,032,746. Star Bulk Carriers Corp. has a 52-week low of $15.67 and a 52-week high of $27.47. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 5.40, a P/E/G ratio of 4.39 and a beta of 0.96. The business's fifty day moving average price is $19.75 and its two-hundred day moving average price is $21.97. The company has a current ratio of 1.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44.

Star Bulk Carriers Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.40 annualized dividend and a dividend yield of 15.02%. Star Bulk Carriers's dividend payout ratio is currently 94.59%.

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.