Williams Jones Wealth Management LLC. Boosts Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Williams Jones Wealth Management LLC. increased its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLKGet Rating) by 53.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,345 shares of the shipping company’s stock after purchasing an additional 24,870 shares during the period. Williams Jones Wealth Management LLC. owned 0.07% of Star Bulk Carriers worth $2,118,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Spire Wealth Management lifted its holdings in Star Bulk Carriers by 40.0% in the 1st quarter. Spire Wealth Management now owns 2,800 shares of the shipping company’s stock worth $83,000 after purchasing an additional 800 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Star Bulk Carriers during the 1st quarter worth approximately $26,000. Avidian Wealth Solutions LLC raised its holdings in shares of Star Bulk Carriers by 6.8% during the 1st quarter. Avidian Wealth Solutions LLC now owns 15,652 shares of the shipping company’s stock worth $465,000 after acquiring an additional 1,000 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Star Bulk Carriers by 4.1% during the 4th quarter. Raymond James & Associates now owns 36,099 shares of the shipping company’s stock worth $818,000 after acquiring an additional 1,421 shares in the last quarter. Finally, IronBridge Private Wealth LLC purchased a new stake in shares of Star Bulk Carriers during the 4th quarter worth approximately $34,000. 52.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on SBLK shares. Stifel Nicolaus decreased their price objective on Star Bulk Carriers from $37.00 to $32.00 in a report on Tuesday, July 19th. StockNews.com cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, Jefferies Financial Group started coverage on Star Bulk Carriers in a research report on Wednesday, July 20th. They set a “buy” rating and a $30.00 target price on the stock.

Star Bulk Carriers Stock Performance

NASDAQ SBLK opened at $20.47 on Monday. The company has a market cap of $2.09 billion, a P/E ratio of 2.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.75 and a current ratio of 2.07. The business’s 50 day moving average price is $23.76 and its 200-day moving average price is $27.16. Star Bulk Carriers Corp. has a fifty-two week low of $17.80 and a fifty-two week high of $33.99.

Star Bulk Carriers (NASDAQ:SBLKGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The shipping company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.75 by $0.25. Star Bulk Carriers had a return on equity of 43.53% and a net margin of 52.61%. During the same period in the prior year, the firm posted $1.26 EPS. Sell-side analysts predict that Star Bulk Carriers Corp. will post 6.57 earnings per share for the current year.

Star Bulk Carriers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 25th were given a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 32.24%. The ex-dividend date was Wednesday, August 24th. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 75.86%.

Star Bulk Carriers Profile

(Get Rating)

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

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Institutional Ownership by Quarter for Star Bulk Carriers (NASDAQ:SBLK)

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