Raymond James Financial Inc. Purchases Shares of 64,871 Star Bulk Carriers Corp. (NASDAQ:SBLK)

Raymond James Financial Inc. purchased a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,871 shares of the shipping company's stock, valued at approximately $970,000. Raymond James Financial Inc. owned approximately 0.08% of Star Bulk Carriers as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Star Bulk Carriers in the 4th quarter worth about $28,000. Parkside Financial Bank & Trust acquired a new position in Star Bulk Carriers in the 4th quarter worth approximately $30,000. Steward Partners Investment Advisory LLC lifted its stake in Star Bulk Carriers by 177.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock worth $39,000 after acquiring an additional 1,676 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in Star Bulk Carriers during the fourth quarter valued at approximately $45,000. Finally, Blue Trust Inc. lifted its position in Star Bulk Carriers by 51.3% in the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock worth $46,000 after buying an additional 1,038 shares in the last quarter. 33.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Jefferies Financial Group cut their price objective on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. StockNews.com lowered shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Star Bulk Carriers presently has a consensus rating of "Hold" and a consensus target price of $22.05.

Star Bulk Carriers Stock Performance

Star Bulk Carriers stock traded up $0.22 on Friday, reaching $15.52. 894,470 shares of the stock were exchanged, compared to its average volume of 1,824,489. The stock has a market cap of $1.83 billion, a PE ratio of 5.41 and a beta of 0.89. The firm has a fifty day moving average price of $14.99 and a two-hundred day moving average price of $15.96. Star Bulk Carriers Corp. has a twelve month low of $12.06 and a twelve month high of $27.47. 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 issued its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.34 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 the consensus estimate of $230.91 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. Sell-side analysts anticipate that Star Bulk Carriers Corp. will post 1.74 EPS 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 issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Tuesday, March 4th. Star Bulk Carriers's dividend payout ratio (DPR) is presently 12.54%.

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.