NBC Securities Inc. grew its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 225,341.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,325 shares of the shipping company's stock after purchasing an additional 38,308 shares during the quarter. NBC Securities Inc.'s holdings in Star Bulk Carriers were worth $596,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Star Bulk Carriers during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust bought a new position in shares of Star Bulk Carriers during the fourth quarter valued at approximately $30,000. Capital Analysts LLC grew its holdings in shares of Star Bulk Carriers by 215.9% during the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock valued at $34,000 after purchasing an additional 1,561 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Star Bulk Carriers by 177.0% during 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 last quarter. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Star Bulk Carriers during the fourth quarter worth approximately $45,000. 33.91% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group reduced their price objective on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $22.05.
Check Out Our Latest Research Report on SBLK
Star Bulk Carriers Stock Performance
Shares of NASDAQ SBLK traded up $0.26 during midday trading on Friday, hitting $16.69. 1,788,136 shares of the company's stock were exchanged, compared to its average volume of 1,793,948. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50. The stock's 50 day moving average price is $15.03 and its 200-day moving average price is $15.47. The firm has a market cap of $1.96 billion, a P/E ratio of 5.82 and a beta of 0.95. Star Bulk Carriers Corp. has a twelve month low of $12.06 and a twelve month high of $25.58.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.21. The firm had revenue of $159.28 million during the quarter, compared to the consensus estimate of $162.57 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. During the same period in the prior year, the firm posted $0.87 earnings per share. Equities research analysts anticipate that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.
Star Bulk Carriers Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, June 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.20%. Star Bulk Carriers's dividend payout ratio (DPR) is presently 10.10%.
Star Bulk Carriers Company Profile
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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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