Star Bulk Carriers Corp. $SBLK Shares Sold by Blue Trust Inc.

Key Points

• Blue Trust Inc. has significantly reduced its holdings in Star Bulk Carriers Corp. by 90.1%, now owning only 3,299 shares after selling 30,141 shares in the second quarter.
• Several hedge funds increased their stakes in Star Bulk Carriers during the first quarter, including Amundi and UBS AM, showcasing diverse institutional interest in the company.
• The company recently announced a quarterly dividend of $0.05 per share, equating to an annualized basis of $0.20 and a dividend yield of 1.1%.

Blue Trust Inc. decreased its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 90.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,299 shares of the shipping company's stock after selling 30,141 shares during the quarter. Blue Trust Inc.'s holdings in Star Bulk Carriers were worth $57,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC acquired a new position in Star Bulk Carriers in the second quarter worth approximately $57,227,000. Amundi grew its position in Star Bulk Carriers by 59.1% in the first quarter. Amundi now owns 1,868,249 shares of the shipping company's stock worth $26,548,000 after buying an additional 693,683 shares during the last quarter. Philosophy Capital Management LLC grew its position in Star Bulk Carriers by 10.1% in the first quarter. Philosophy Capital Management LLC now owns 1,519,259 shares of the shipping company's stock worth $23,640,000 after buying an additional 139,930 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Star Bulk Carriers by 59.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company's stock worth $20,204,000 after buying an additional 485,436 shares during the last quarter. Finally, Focus Partners Wealth grew its position in Star Bulk Carriers by 56.0% in the first quarter. Focus Partners Wealth now owns 938,208 shares of the shipping company's stock worth $14,599,000 after buying an additional 336,873 shares during the last quarter. Institutional investors and hedge funds own 33.91% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of Star Bulk Carriers in a research report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a research note on Thursday, August 7th. Wall Street Zen raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Zacks Research raised shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $21.07.

Star Bulk Carriers Trading Up 1.1%

Shares of NASDAQ:SBLK opened at $17.68 on Friday. The firm has a fifty day moving average of $18.79 and a two-hundred day moving average of $17.23. The firm has a market capitalization of $2.08 billion, a P/E ratio of 16.84 and a beta of 0.95. Star Bulk Carriers Corp. has a 12-month low of $12.06 and a 12-month high of $20.54. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 0.40.

Star Bulk Carriers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Thursday, August 28th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. Star Bulk Carriers's dividend payout ratio (DPR) is 19.05%.

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.

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