Bank Julius Baer & Co. Ltd Zurich Purchases Shares of 1,685 Star Bulk Carriers Corp. (NASDAQ:SBLK)

Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,685 shares of the shipping company’s stock, valued at approximately $28,000.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Star Bulk Carriers during the fourth quarter worth approximately $970,000. Steward Partners Investment Advisory LLC raised its position in shares of Star Bulk Carriers by 177.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company’s stock worth $39,000 after buying an additional 1,676 shares during the period. SBI Securities Co. Ltd. acquired a new position in Star Bulk Carriers in the fourth quarter valued at $241,000. Parkside Financial Bank & Trust purchased a new stake in Star Bulk Carriers during the fourth quarter valued at about $30,000. Finally, Y Intercept Hong Kong Ltd increased its stake in Star Bulk Carriers by 44.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,557 shares of the shipping company’s stock worth $591,000 after acquiring an additional 12,185 shares during the last quarter. 33.91% of the stock is owned by institutional investors and hedge funds.

Star Bulk Carriers Stock Up 0.3 %

NASDAQ SBLK opened at $15.79 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. Star Bulk Carriers Corp. has a fifty-two week low of $14.30 and a fifty-two week high of $27.47. The business has a 50 day moving average price of $15.34 and a two-hundred day moving average price of $17.92. The stock has a market cap of $1.33 billion, a PE ratio of 5.50 and a beta of 1.03.

Star Bulk Carriers (NASDAQ:SBLK) last released 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 firm had revenue of $308.92 million for the quarter, compared to analyst estimates of $230.91 million. As a group, sell-side analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal 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 given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, March 4th. Star Bulk Carriers’s payout ratio is 12.54%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SBLK. StockNews.com cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Jefferies Financial Group decreased their price objective on shares of 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. Finally, DNB Markets raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and increased their price objective for the stock from $19.30 to $20.20 in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.05.

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.