Kingstone Capital Partners Texas LLC Makes New Investment in Star Bulk Carriers Corp. $SBLK

Key Points

• Kingstone Capital Partners Texas LLC has acquired 3,317,491 shares of Star Bulk Carriers Corp., representing approximately 2.82% of the company's stock, valued at roughly $57.2 million.
• Star Bulk Carriers declared a quarterly dividend of $0.05 per share, resulting in an annualized dividend of $0.20 and a dividend yield of 1.0%.
• Analysts have issued a mix of ratings for Star Bulk Carriers, with Jefferies maintaining a buy rating and a target price of $22.00, while others have adjusted ratings to hold.

Kingstone Capital Partners Texas LLC bought a new stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,317,491 shares of the shipping company's stock, valued at approximately $57,227,000. Kingstone Capital Partners Texas LLC owned 2.82% of Star Bulk Carriers as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SBLK. Amundi boosted its holdings in Star Bulk Carriers by 59.1% in the 1st quarter. Amundi now owns 1,868,249 shares of the shipping company's stock worth $26,548,000 after buying an additional 693,683 shares during the period. Philosophy Capital Management LLC boosted its holdings in Star Bulk Carriers by 10.1% in the 1st quarter. Philosophy Capital Management LLC now owns 1,519,259 shares of the shipping company's stock valued at $23,640,000 after purchasing an additional 139,930 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Star Bulk Carriers by 59.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company's stock valued at $20,204,000 after purchasing an additional 485,436 shares during the period. Focus Partners Wealth boosted its holdings in Star Bulk Carriers by 56.0% in the 1st quarter. Focus Partners Wealth now owns 938,208 shares of the shipping company's stock valued at $14,599,000 after purchasing an additional 336,873 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Star Bulk Carriers by 12.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 813,000 shares of the shipping company's stock valued at $12,154,000 after purchasing an additional 89,600 shares during the period. 33.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBLK. Jefferies Financial Group restated a "buy" rating and set a $22.00 price objective on shares of Star Bulk Carriers in a research report on Thursday, August 7th. 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. Finally, 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. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.07.

Star Bulk Carriers Price Performance

SBLK stock traded up $0.50 during trading on Tuesday, hitting $19.64. 288,401 shares of the company's stock traded hands, compared to its average volume of 1,645,526. Star Bulk Carriers Corp. has a 52 week low of $12.06 and a 52 week high of $23.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.42 and a current ratio of 1.61. The business has a fifty day simple moving average of $18.94 and a 200 day simple moving average of $16.96. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 18.71 and a beta of 0.97.

Star Bulk Carriers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Thursday, August 28th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 28th. Star Bulk Carriers's dividend payout ratio (DPR) is currently 19.05%.

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.