Russell Investments Group Ltd. Boosts Stake in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Russell Investments Group Ltd. grew its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 329,342 shares of the shipping company's stock after buying an additional 24,835 shares during the period. Russell Investments Group Ltd. owned 0.39% of Star Bulk Carriers worth $4,924,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SBLK. Public Employees Retirement System of Ohio purchased a new position in Star Bulk Carriers in the 3rd quarter valued at about $1,731,000. Barclays PLC lifted its stake in shares of Star Bulk Carriers by 7,313.4% during the third quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock valued at $10,784,000 after buying an additional 449,113 shares during the period. Geode Capital Management LLC boosted its position in Star Bulk Carriers by 359.3% during the third quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company's stock worth $10,833,000 after acquiring an additional 357,720 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in Star Bulk Carriers in the 3rd quarter worth approximately $57,000. Finally, Adams Asset Advisors LLC acquired a new position in Star Bulk Carriers in the 4th quarter valued at $1,495,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on SBLK shares. Jefferies Financial Group dropped their target price on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $22.05.

Star Bulk Carriers Trading Up 1.8 %

NASDAQ:SBLK traded up $0.24 on Friday, hitting $13.79. 1,001,434 shares of the stock were exchanged, compared to its average volume of 1,863,078. The stock has a market cap of $1.62 billion, a PE ratio of 4.80 and a beta of 0.77. Star Bulk Carriers Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $27.47. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average of $15.29 and a 200-day moving average of $16.66.

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

Star Bulk Carriers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Tuesday, March 4th. Star Bulk Carriers's payout ratio is 12.54%.

Star Bulk Carriers Company 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.