Legal & General Group Plc Sells 779 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Legal & General Group Plc trimmed its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,363 shares of the shipping company’s stock after selling 779 shares during the quarter. Legal & General Group Plc’s holdings in Star Bulk Carriers were worth $349,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Aristides Capital LLC bought a new stake in shares of Star Bulk Carriers in the fourth quarter worth about $208,000. Russell Investments Group Ltd. increased its stake in Star Bulk Carriers by 8.2% during the fourth quarter. Russell Investments Group Ltd. now owns 329,342 shares of the shipping company’s stock worth $4,924,000 after acquiring an additional 24,835 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Star Bulk Carriers during the fourth quarter worth approximately $990,000. Geode Capital Management LLC increased its stake in Star Bulk Carriers by 22.8% during the fourth quarter. Geode Capital Management LLC now owns 561,713 shares of the shipping company’s stock worth $8,398,000 after acquiring an additional 104,439 shares during the last quarter. Finally, Headlands Technologies LLC increased its stake in Star Bulk Carriers by 21.1% during the fourth quarter. Headlands Technologies LLC now owns 48,011 shares of the shipping company’s stock worth $718,000 after acquiring an additional 8,376 shares during the last quarter. 33.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Jefferies Financial Group dropped their target price on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.05.

Star Bulk Carriers Stock Up 0.3 %

Shares of NASDAQ:SBLK opened at $14.74 on Thursday. Star Bulk Carriers Corp. has a 1 year low of $12.06 and a 1 year high of $27.47. The business has a 50 day simple moving average of $15.04 and a two-hundred day simple moving average of $16.23. The firm has a market capitalization of $1.73 billion, a PE ratio of 5.14 and a beta of 0.77. 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 announced its quarterly 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). The firm had revenue of $308.92 million for the quarter, compared to analysts’ expectations of $230.91 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. On average, equities analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.36 annualized dividend and a dividend yield of 2.44%. Star Bulk Carriers’s dividend payout ratio is currently 12.54%.

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.