UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 89,600 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 813,000 shares of the shipping company's stock after buying an additional 89,600 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.97% of Star Bulk Carriers worth $12,154,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Star Bulk Carriers in the fourth quarter worth approximately $28,000. Parkside Financial Bank & Trust acquired a new stake in shares of Star Bulk Carriers in the 4th quarter valued at $30,000. Capital Analysts LLC boosted its holdings in Star Bulk Carriers by 215.9% in the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock worth $34,000 after purchasing an additional 1,561 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Star Bulk Carriers by 177.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock worth $39,000 after purchasing an additional 1,676 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Star Bulk Carriers during the fourth quarter worth $45,000. Institutional investors and hedge funds own 33.91% of the company's stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reduced their price target 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 given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $22.05.

Star Bulk Carriers Stock Performance

Shares of Star Bulk Carriers stock traded down $0.14 on Tuesday, reaching $16.20. The stock had a trading volume of 1,366,127 shares, compared to its average volume of 1,805,467. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. The business's 50-day moving average price is $14.98 and its two-hundred day moving average price is $15.57. The stock has a market cap of $1.91 billion, a P/E ratio of 5.64 and a beta of 0.89. Star Bulk Carriers Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $27.06.

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 analyst estimates of $162.57 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. During the same quarter in the previous year, the business earned $0.87 EPS. On average, sell-side analysts forecast that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 6th. Star Bulk Carriers's dividend payout ratio (DPR) is currently 10.10%.

About Star Bulk Carriers

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.