Public Employees Retirement System of Ohio Acquires Shares of 54,886 Star Bulk Carriers Corp. $SBLK

Public Employees Retirement System of Ohio purchased a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 54,886 shares of the shipping company's stock, valued at approximately $1,371,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Triumph Capital Management bought a new position in Star Bulk Carriers in the third quarter valued at about $26,000. Rhumbline Advisers raised its holdings in Star Bulk Carriers by 141.7% during the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company's stock worth $32,000 after purchasing an additional 1,022 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in Star Bulk Carriers during the 3rd quarter worth about $33,000. Morse Asset Management Inc acquired a new position in Star Bulk Carriers during the 3rd quarter valued at about $37,000. Finally, Leonteq Securities AG acquired a new position in Star Bulk Carriers during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 33.91% of the company's stock.

Insiders Place Their Bets

In other Star Bulk Carriers news, insider Charis Plakantonaki sold 10,825 shares of Star Bulk Carriers stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $29.82, for a total transaction of $322,801.50. Following the transaction, the insider directly owned 55,778 shares in the company, valued at approximately $1,663,299.96. The trade was a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Nikolaos Rescos sold 5,000 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.50, for a total value of $147,500.00. Following the completion of the transaction, the chief operating officer directly owned 400,875 shares of the company's stock, valued at approximately $11,825,812.50. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 101,650 shares of company stock valued at $3,027,835.

Star Bulk Carriers Price Performance

Shares of NASDAQ:SBLK opened at $32.42 on Tuesday. Star Bulk Carriers Corp. has a 52 week low of $16.72 and a 52 week high of $32.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 1.91. The company has a market capitalization of $3.68 billion, a PE ratio of 12.71 and a beta of 0.70. The company has a 50 day moving average price of $28.29 and a two-hundred day moving average price of $26.29.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.26. Star Bulk Carriers had a net margin of 23.87% and a return on equity of 11.72%. The company had revenue of $284.60 million for the quarter, compared to analysts' expectations of $284.29 million. Analysts forecast that Star Bulk Carriers Corp. will post 4.32 earnings per share for the current year.

Star Bulk Carriers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Friday, August 21st were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 11.1%. The ex-dividend date of this dividend was Friday, August 21st. This is a boost from Star Bulk Carriers's previous quarterly dividend of $0.50. Star Bulk Carriers's dividend payout ratio (DPR) is 141.18%.

Analyst Ratings Changes

SBLK has been the subject of a number of analyst reports. Zacks Research raised shares of Star Bulk Carriers from a "hold" rating to a "strong-buy" rating in a report on Friday, August 14th. Weiss Ratings raised Star Bulk Carriers from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 27th. Jefferies Financial Group raised their price target on Star Bulk Carriers from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $32.00 price objective on shares of Star Bulk Carriers in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $31.50.

About Star Bulk Carriers

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company's vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.

Want to see what other hedge funds are holding SBLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.