Mraz Amerine & Associates Inc. Purchases 28,010 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Mraz Amerine & Associates Inc. raised its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 33.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,231 shares of the shipping company's stock after purchasing an additional 28,010 shares during the period. Mraz Amerine & Associates Inc. owned 0.10% of Star Bulk Carriers worth $1,793,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SBLK. Praetorian PR LLC bought a new position in shares of Star Bulk Carriers during the 4th quarter valued at about $6,267,000. Amundi boosted its holdings in shares of Star Bulk Carriers by 48.9% during the 4th 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. Norges Bank bought a new position in shares of Star Bulk Carriers during the 4th quarter valued at about $3,530,000. Millennium Management LLC boosted its holdings in shares of Star Bulk Carriers by 97.2% during the 4th quarter. Millennium Management LLC now owns 436,244 shares of the shipping company's stock valued at $6,522,000 after purchasing an additional 215,074 shares during the last quarter. Finally, Grand Alliance Asset Management Ltd lifted its holdings in shares of Star Bulk Carriers by 37.0% in the 4th quarter. Grand Alliance Asset Management Ltd now owns 740,000 shares of the shipping company's stock valued at $11,063,000 after acquiring an additional 200,000 shares during the last quarter. Institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Trading Up 3.6%

Shares of NASDAQ:SBLK traded up $0.62 during trading on Thursday, reaching $18.02. The company's stock had a trading volume of 1,341,328 shares, compared to its average volume of 1,828,217. The company has a current ratio of 1.65, a quick ratio of 1.47 and a debt-to-equity ratio of 0.42. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $24.51. The firm's 50 day simple moving average is $16.60 and its two-hundred day simple moving average is $15.63. The stock has a market capitalization of $2.12 billion, a PE ratio of 9.10 and a beta of 0.93.

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

Star Bulk Carriers Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Star Bulk Carriers 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.