Star Bulk Carriers Corp. (NASDAQ:SBLK) Stake Boosted by Mraz Amerine & Associates Inc.

Mraz Amerine & Associates Inc. raised its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 33.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 112,231 shares of the shipping company's stock after buying an additional 28,010 shares during the quarter. Mraz Amerine & Associates Inc. owned about 0.10% of Star Bulk Carriers worth $1,793,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of SBLK. Steward Partners Investment Advisory LLC lifted 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 purchasing an additional 1,676 shares during the period. Raymond James Financial Inc. purchased a new stake in Star Bulk Carriers during the fourth quarter worth $970,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Star Bulk Carriers in the fourth quarter valued at approximately $28,000. Amundi grew its position in shares of Star Bulk Carriers by 48.9% in the fourth quarter. Amundi now owns 1,174,566 shares of the shipping company's stock valued at $17,454,000 after purchasing an additional 385,980 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of Star Bulk Carriers in the fourth quarter valued at approximately $904,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Star Bulk Carriers Trading Up 3.6%

SBLK traded up $0.63 during trading on Thursday, hitting $18.03. The company's stock had a trading volume of 859,532 shares, compared to its average volume of 1,822,760. The firm's 50 day moving average price is $16.53 and its 200-day moving average price is $15.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.47. The stock has a market cap of $2.12 billion, a PE ratio of 9.09 and a beta of 0.93. Star Bulk Carriers Corp. has a twelve month low of $12.06 and a twelve month high of $24.51.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.21. Star Bulk Carriers had a return on equity of 8.20% and a net margin of 18.62%. The firm had revenue of $159.28 million for the quarter, compared to analysts' expectations of $162.57 million. During the same quarter last year, the firm earned $0.87 earnings per share. On average, analysts expect that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, June 6th. This represents a $0.20 annualized dividend and a yield of 1.11%. Star Bulk Carriers's dividend payout ratio is currently 10.10%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Star Bulk Carriers from a "hold" rating to a "sell" rating in a research report on Sunday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $22.05.

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.