FIL Ltd decreased its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 344,154 shares of the shipping company's stock after selling 72,949 shares during the quarter. FIL Ltd owned 0.41% of Star Bulk Carriers worth $5,145,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in shares of Star Bulk Carriers during the 3rd quarter worth about $648,000. Public Employees Retirement System of Ohio bought a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at approximately $1,731,000. Barclays PLC raised its holdings in shares of Star Bulk Carriers by 7,313.4% in the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock worth $10,784,000 after buying an additional 449,113 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Star Bulk Carriers by 359.3% during the 3rd quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company's stock worth $10,833,000 after buying an additional 357,720 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in Star Bulk Carriers in the 3rd quarter valued at $57,000. Institutional investors and hedge funds own 33.91% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on SBLK shares. 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 report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $22.05.
Read Our Latest Research Report on SBLK
Star Bulk Carriers Price Performance
Shares of NASDAQ:SBLK traded up $0.24 during midday trading on Friday, reaching $13.79. The company's stock had a trading volume of 1,001,434 shares, compared to its average volume of 1,861,157. The business's fifty day simple moving average is $15.33 and its 200-day simple moving average is $16.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50. Star Bulk Carriers Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $27.47. The company has a market capitalization of $1.62 billion, a P/E ratio of 4.80 and a beta of 0.77.
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 the consensus estimate of $0.42 by ($0.08). Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The company had revenue of $308.92 million during the quarter, compared to analyst estimates of $230.91 million. As a group, equities research analysts expect that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.
Star Bulk Carriers Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a $0.09 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a yield of 2.61%. Star Bulk Carriers's payout ratio is 12.54%.
About Star Bulk Carriers
(
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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