UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 89,600 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 813,000 shares of the shipping company’s stock after buying an additional 89,600 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.97% of Star Bulk Carriers worth $12,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SBLK. Barclays PLC lifted its holdings in shares of Star Bulk Carriers by 7,313.4% during the 3rd 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. Blue Trust Inc. lifted its holdings in shares of Star Bulk Carriers by 51.3% during the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company’s stock valued at $46,000 after buying an additional 1,038 shares during the period. DAVENPORT & Co LLC lifted its holdings in shares of Star Bulk Carriers by 8.3% during the 4th quarter. DAVENPORT & Co LLC now owns 14,129 shares of the shipping company’s stock valued at $211,000 after buying an additional 1,083 shares during the period. CFM Wealth Partners LLC lifted its holdings in shares of Star Bulk Carriers by 10.3% during the 4th quarter. CFM Wealth Partners LLC now owns 106,119 shares of the shipping company’s stock valued at $1,586,000 after buying an additional 9,895 shares during the period. Finally, Guidance Capital Inc. lifted its holdings in shares of Star Bulk Carriers by 6.1% during the 4th quarter. Guidance Capital Inc. now owns 25,103 shares of the shipping company’s stock valued at $372,000 after buying an additional 1,434 shares during the period. 33.91% of the stock is owned by institutional investors.

Star Bulk Carriers Price Performance

Shares of Star Bulk Carriers stock opened at $16.18 on Friday. Star Bulk Carriers Corp. has a one year low of $12.06 and a one year high of $27.39. The stock’s fifty day moving average is $14.97 and its 200 day moving average is $15.68. The stock has a market cap of $1.90 billion, a P/E ratio of 5.64 and a beta of 0.89. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.21. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. The company had revenue of $159.28 million for the quarter, compared to analysts’ expectations of $162.57 million. During the same period last year, the firm earned $0.87 EPS. Sell-side analysts anticipate that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.05 dividend. The ex-dividend date is Friday, June 6th. Star Bulk Carriers’s payout ratio is presently 10.10%.

Analyst Ratings Changes

Separately, Jefferies Financial Group decreased their target price on 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.