Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 161.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 52,512 shares of the shipping company's stock after acquiring an additional 32,392 shares during the period. Franklin Resources Inc. owned about 0.06% of Star Bulk Carriers worth $785,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Amundi raised its stake in shares of Star Bulk Carriers by 48.9% during the fourth quarter. Amundi now owns 1,174,566 shares of the shipping company's stock valued at $17,454,000 after acquiring an additional 385,980 shares in the last quarter. Geode Capital Management LLC raised its position in Star Bulk Carriers by 359.3% during the 3rd quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company's stock valued at $10,833,000 after purchasing an additional 357,720 shares in the last quarter. Barclays PLC lifted its holdings in shares of Star Bulk Carriers by 7,313.4% in the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock worth $10,784,000 after buying an additional 449,113 shares during the period. Norges Bank bought a new position in shares of Star Bulk Carriers during the 4th quarter worth $3,530,000. Finally, Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Star Bulk Carriers during the fourth quarter valued at $2,743,000. Institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Stock Down 0.2 %

Shares of SBLK stock traded down $0.03 during mid-day trading on Tuesday, hitting $13.56. 602,310 shares of the stock traded hands, compared to its average volume of 1,860,014. Star Bulk Carriers Corp. has a 52-week low of $12.06 and a 52-week high of $27.47. The stock has a market cap of $1.60 billion, a P/E ratio of 4.72 and a beta of 0.77. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50. The stock's fifty day moving average is $15.20 and its two-hundred day moving average is $16.49.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.08). The firm had revenue of $308.92 million during the quarter, compared to analyst estimates of $230.91 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. Equities analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Tuesday, March 4th. Star Bulk Carriers's dividend payout ratio is currently 12.54%.

Analysts Set New Price Targets

SBLK has been the topic of several recent research reports. StockNews.com cut shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Jefferies Financial Group cut their price objective on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.05.

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.