Public Employees Retirement System of Ohio Purchases 864 Shares of Star Bulk Carriers Corp. $SBLK

Public Employees Retirement System of Ohio grew its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 34.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,402 shares of the shipping company’s stock after acquiring an additional 864 shares during the period. Public Employees Retirement System of Ohio’s holdings in Star Bulk Carriers were worth $59,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Arrow Investment Advisors LLC bought a new position in shares of Star Bulk Carriers in the 2nd quarter valued at $228,000. Kingstone Capital Partners Texas LLC bought a new position in Star Bulk Carriers during the 2nd quarter worth $57,227,000. Capital Advisory Group Advisory Services LLC bought a new position in Star Bulk Carriers during the 2nd quarter worth $2,052,000. Intrua Financial LLC raised its position in Star Bulk Carriers by 49.0% during the 1st quarter. Intrua Financial LLC now owns 15,200 shares of the shipping company’s stock worth $237,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Focus Partners Wealth raised its position in Star Bulk Carriers by 56.0% during the 1st quarter. Focus Partners Wealth now owns 938,208 shares of the shipping company’s stock worth $14,599,000 after purchasing an additional 336,873 shares during the last quarter. 33.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SBLK shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 target price on shares of Star Bulk Carriers in a research report on Thursday, August 7th. Zacks Research raised Star Bulk Carriers from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Wall Street Zen raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Star Bulk Carriers in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Star Bulk Carriers currently has an average rating of “Hold” and a consensus target price of $21.07.

Star Bulk Carriers Price Performance

SBLK stock opened at $18.42 on Wednesday. The stock has a market capitalization of $2.17 billion, a PE ratio of 17.54 and a beta of 0.95. The company’s 50-day moving average is $19.00 and its 200-day moving average is $17.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.42. Star Bulk Carriers Corp. has a 1 year low of $12.06 and a 1 year high of $22.24.

Star Bulk Carriers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Thursday, August 28th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.20 annualized dividend and a yield of 1.1%. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 19.05%.

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.