Valueworks LLC boosted its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 6.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 364,270 shares of the shipping company's stock after purchasing an additional 22,545 shares during the quarter. Star Bulk Carriers accounts for about 2.1% of Valueworks LLC's portfolio, making the stock its 18th largest holding. Valueworks LLC owned approximately 0.31% of Star Bulk Carriers worth $5,668,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Star Bulk Carriers in the 4th quarter valued at approximately $970,000. Mariner LLC raised its holdings in shares of Star Bulk Carriers by 290.6% during the fourth quarter. Mariner LLC now owns 48,637 shares of the shipping company's stock valued at $727,000 after purchasing an additional 36,186 shares during the period. Guggenheim Capital LLC acquired a new position in Star Bulk Carriers during the 4th quarter worth approximately $155,000. Grand Alliance Asset Management Ltd grew its position in Star Bulk Carriers by 37.0% in the 4th quarter. Grand Alliance Asset Management Ltd now owns 740,000 shares of the shipping company's stock valued at $11,063,000 after purchasing an additional 200,000 shares during the period. Finally, Capital Analysts LLC raised its holdings in shares of Star Bulk Carriers by 215.9% in the 4th quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock worth $34,000 after acquiring an additional 1,561 shares during the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently commented on SBLK shares. Zacks Research raised Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Wall Street Zen upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $22.00 price target on shares of Star Bulk Carriers in a report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $22.30.
Check Out Our Latest Report on SBLK
Star Bulk Carriers Stock Up 0.1%
Shares of NASDAQ SBLK traded up $0.03 on Thursday, reaching $18.99. 370,921 shares of the company's stock traded hands, compared to its average volume of 1,678,502. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 0.40. The business's 50 day simple moving average is $18.32 and its two-hundred day simple moving average is $16.50. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $23.82. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 18.08 and a beta of 0.94.
Star Bulk Carriers Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Thursday, August 28th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. Star Bulk Carriers's dividend payout ratio (DPR) is 19.05%.
Star Bulk Carriers Company Profile
(
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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