Armor Advisors L.L.C. Has $5.47 Million Stock Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Armor Advisors L.L.C. lowered its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,763 shares of the shipping company's stock after selling 108,580 shares during the period. Star Bulk Carriers accounts for about 5.7% of Armor Advisors L.L.C.'s holdings, making the stock its 5th biggest position. Armor Advisors L.L.C. owned 0.44% of Star Bulk Carriers worth $5,468,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SBLK. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Star Bulk Carriers during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust purchased a new stake in shares of Star Bulk Carriers in the fourth quarter worth about $30,000. Capital Analysts LLC increased its holdings in shares of Star Bulk Carriers by 215.9% in the 4th quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock worth $34,000 after buying an additional 1,561 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Star Bulk Carriers by 177.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock valued at $39,000 after acquiring an additional 1,676 shares during the period. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of Star Bulk Carriers during the fourth quarter worth $45,000. Institutional investors own 33.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SBLK shares. StockNews.com downgraded shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Jefferies Financial Group cut 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Star Bulk Carriers presently has a consensus rating of "Hold" and an average price target of $22.05.

Star Bulk Carriers Stock Performance

SBLK traded up $0.31 during trading on Thursday, reaching $15.27. The company's stock had a trading volume of 624,711 shares, compared to its average volume of 1,826,161. The company's fifty day moving average price is $14.99 and its 200-day moving average price is $16.05. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 5.32 and a beta of 0.89. 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 52-week low of $12.06 and a 52-week high of $27.47.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced 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 firm had revenue of $308.92 million for the quarter, compared to analyst estimates of $230.91 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. On average, equities analysts forecast that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a yield of 2.36%. Star Bulk Carriers's dividend payout ratio (DPR) is presently 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.