American Century Companies Inc. Sells 454,748 Shares of Star Bulk Carriers Corp. $SBLK

Key Points

• American Century Companies Inc. significantly reduced its stake in Star Bulk Carriers Corp. by 95.8%, leaving it with only 19,922 shares valued at approximately $310,000.
• Star Bulk Carriers declared a quarterly dividend of $0.05 per share, representing an annualized payout of $0.20 and a yield of 1.0%, with the ex-dividend date set for August 28th.
• Recent research reports have upgraded Star Bulk Carriers' rating, with Zacks Research moving from "strong sell" to "hold," while Jefferies maintains a "buy" rating with a price target of $22.00.

American Century Companies Inc. reduced its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 95.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,922 shares of the shipping company's stock after selling 454,748 shares during the quarter. American Century Companies Inc.'s holdings in Star Bulk Carriers were worth $310,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in Star Bulk Carriers by 97.0% during the 1st quarter. Golden State Wealth Management LLC now owns 69,936 shares of the shipping company's stock valued at $1,088,000 after purchasing an additional 34,433 shares during the last quarter. Aurora Private Wealth Inc. acquired a new position in Star Bulk Carriers during the 1st quarter valued at $893,000. Northern Trust Corp raised its stake in Star Bulk Carriers by 21.1% during the 4th quarter. Northern Trust Corp now owns 93,352 shares of the shipping company's stock valued at $1,396,000 after purchasing an additional 16,287 shares during the last quarter. GAMMA Investing LLC increased its holdings in Star Bulk Carriers by 1,456.0% in the 1st quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company's stock valued at $48,000 after buying an additional 2,912 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in shares of Star Bulk Carriers in the 4th quarter valued at $477,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Price Performance

NASDAQ:SBLK traded down $0.31 during mid-day trading on Thursday, reaching $19.19. 1,885,651 shares of the company were exchanged, compared to its average volume of 1,006,196. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $23.82. The company has a fifty day moving average of $18.74 and a 200 day moving average of $16.75. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.26 billion, a PE ratio of 18.28 and a beta of 0.97.

Star Bulk Carriers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Thursday, August 28th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. Star Bulk Carriers's dividend payout ratio is currently 19.05%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Jefferies Financial Group reiterated a "buy" rating and set a $22.00 target price on shares of Star Bulk Carriers in a research report on Thursday, August 7th. Finally, Zacks Research upgraded shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Star Bulk Carriers currently has a consensus rating of "Hold" and a consensus price target of $21.07.

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.