Star Bulk Carriers Corp. (NASDAQ:SBLK) Holdings Reduced by Invesco Ltd.

Invesco Ltd. decreased its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 200,584 shares of the shipping company’s stock after selling 3,628 shares during the period. Invesco Ltd. owned approximately 0.24% of Star Bulk Carriers worth $2,999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBLK. Barclays PLC grew its position in Star Bulk Carriers by 7,313.4% in the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company’s stock worth $10,784,000 after purchasing an additional 449,113 shares during the last quarter. Amundi boosted its holdings in shares of Star Bulk Carriers by 48.9% in the fourth quarter. Amundi now owns 1,174,566 shares of the shipping company’s stock valued at $17,454,000 after acquiring an additional 385,980 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Star Bulk Carriers by 359.3% in the third quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company’s stock valued at $10,833,000 after acquiring an additional 357,720 shares in the last quarter. Norges Bank bought a new position in shares of Star Bulk Carriers in the fourth quarter valued at approximately $3,530,000. Finally, Prevail Innovative Wealth Advisors LLC bought a new position in shares of Star Bulk Carriers in the fourth quarter valued at approximately $2,743,000. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Up 1.0 %

SBLK stock opened at $14.64 on Tuesday. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $27.47. The firm has a market cap of $1.72 billion, a PE ratio of 5.10 and a beta of 0.77. The firm has a 50 day simple moving average of $15.08 and a 200 day simple moving average of $16.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing the consensus estimate 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 business had revenue of $308.92 million for the quarter, compared to analyst estimates of $230.91 million. Equities research analysts forecast that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a $0.09 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.36 annualized dividend and a dividend yield of 2.46%. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 12.54%.

Analyst Ratings Changes

SBLK has been the subject of several recent analyst reports. 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 report on Wednesday, February 19th. StockNews.com cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Star Bulk Carriers currently has an average rating of “Hold” and an average price target 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.