Raiffeisen Bank International AG lifted its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 73.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,201 shares of the shipping company's stock after acquiring an additional 23,746 shares during the quarter. Raiffeisen Bank International AG's holdings in Star Bulk Carriers were worth $898,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its holdings in shares of Star Bulk Carriers by 4.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 18,422 shares of the shipping company's stock valued at $275,000 after acquiring an additional 826 shares in the last quarter. Sowell Financial Services LLC raised its holdings in shares of Star Bulk Carriers by 2.4% in the first quarter. Sowell Financial Services LLC now owns 61,909 shares of the shipping company's stock valued at $963,000 after acquiring an additional 1,466 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of Star Bulk Carriers by 6.8% in the first quarter. Sigma Planning Corp now owns 24,009 shares of the shipping company's stock valued at $374,000 after acquiring an additional 1,527 shares in the last quarter. Capital Analysts LLC raised its holdings in shares of Star Bulk Carriers by 215.9% in the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock valued at $34,000 after acquiring an additional 1,561 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Star Bulk Carriers by 5.9% in the first quarter. Blue Trust Inc. now owns 33,440 shares of the shipping company's stock valued at $520,000 after acquiring an additional 1,875 shares in the last quarter. 33.91% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded Star Bulk Carriers from a "hold" rating to a "sell" rating in a report on Saturday. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $22.05.
View Our Latest Stock Report on Star Bulk Carriers
Star Bulk Carriers Price Performance
Shares of SBLK stock opened at $18.77 on Tuesday. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $23.82. The stock's 50-day moving average is $17.51 and its 200 day moving average is $16.07. The company has a market cap of $2.21 billion, a P/E ratio of 9.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.47.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $159.28 million for the quarter, compared to the consensus estimate of $162.57 million. During the same quarter last year, the company earned $0.87 earnings per share. Research analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.
Star Bulk Carriers Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 6th. Star Bulk Carriers's dividend payout ratio is currently 10.10%.
About Star Bulk Carriers
(
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.
Further Reading
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