Raymond James & Associates Lowers Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Raymond James & Associates lessened its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 16.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 39,086 shares of the shipping company’s stock after selling 7,691 shares during the period. Raymond James & Associates’ holdings in Star Bulk Carriers were worth $831,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Star Bulk Carriers in the third quarter valued at approximately $83,000. Global Retirement Partners LLC lifted its holdings in shares of Star Bulk Carriers by 13.6% in the third quarter. Global Retirement Partners LLC now owns 7,391 shares of the shipping company’s stock valued at $139,000 after purchasing an additional 882 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Star Bulk Carriers during the third quarter valued at $214,000. Axxcess Wealth Management LLC acquired a new stake in Star Bulk Carriers during the third quarter valued at approximately $223,000. Finally, Regal Investment Advisors LLC raised its stake in Star Bulk Carriers by 12.0% during the 3rd quarter. Regal Investment Advisors LLC now owns 12,375 shares of the shipping company’s stock valued at $239,000 after acquiring an additional 1,325 shares in the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.

Star Bulk Carriers Price Performance

NASDAQ SBLK opened at $23.43 on Tuesday. The stock has a market capitalization of $1.97 billion, a PE ratio of 13.24 and a beta of 1.12. The company has a 50 day moving average price of $23.58 and a two-hundred day moving average price of $21.50. Star Bulk Carriers Corp. has a 12-month low of $16.57 and a 12-month high of $25.16. The company has a quick ratio of 1.09, a current ratio of 1.26 and a debt-to-equity ratio of 0.59.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings data on Tuesday, February 13th. The shipping company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.16. The company had revenue of $263.46 million for the quarter, compared to the consensus estimate of $236.40 million. Star Bulk Carriers had a net margin of 18.28% and a return on equity of 9.77%. During the same quarter in the previous year, the firm posted $0.90 EPS. As a group, equities analysts predict that Star Bulk Carriers Corp. will post 4.32 earnings per share for the current fiscal year.

Star Bulk Carriers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 11th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.22. This represents a $1.80 dividend on an annualized basis and a yield of 7.68%. Star Bulk Carriers’s payout ratio is 101.70%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upped their target price on Star Bulk Carriers from $76.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, February 14th.

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.