Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Bought by Amundi

Amundi lifted its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 48.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,174,566 shares of the shipping company’s stock after buying an additional 385,980 shares during the quarter. Amundi’s holdings in Star Bulk Carriers were worth $17,454,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Star Bulk Carriers in the fourth quarter worth approximately $28,000. Parkside Financial Bank & Trust purchased a new stake in shares of Star Bulk Carriers during the 4th quarter worth $30,000. Quarry LP lifted its position in shares of Star Bulk Carriers by 39.8% during the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock worth $56,000 after purchasing an additional 673 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Star Bulk Carriers during the third quarter worth $57,000. Finally, Steward Partners Investment Advisory LLC increased 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 valued at $39,000 after buying an additional 1,676 shares during the last quarter. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SBLK shares. Jefferies Financial Group decreased their price target on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and boosted their target price for the stock from $19.30 to $20.20 in a research note on Thursday, November 21st. Finally, StockNews.com downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Star Bulk Carriers has a consensus rating of “Hold” and an average target price of $22.05.

Star Bulk Carriers Stock Down 0.6 %

SBLK opened at $16.40 on Friday. Star Bulk Carriers Corp. has a one year low of $14.30 and a one year high of $27.47. 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 stock has a market capitalization of $1.38 billion, a P/E ratio of 5.71 and a beta of 1.03. The business’s 50-day simple moving average is $15.39 and its 200-day simple moving average is $17.90.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.08). Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. The firm had revenue of $308.92 million for the quarter, compared to analysts’ expectations of $230.91 million. Analysts anticipate 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 will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.20%. Star Bulk Carriers’s payout ratio is 12.54%.

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.