Arrowstreet Capital Limited Partnership Has $11.82 Million Position in Star Bulk Carriers Corp. $SBLK

Arrowstreet Capital Limited Partnership decreased its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 58.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 685,037 shares of the shipping company’s stock after selling 958,434 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.58% of Star Bulk Carriers worth $11,817,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBLK. Kingstone Capital Partners Texas LLC bought a new stake in Star Bulk Carriers in the second quarter valued at about $57,227,000. Amundi boosted its holdings in Star Bulk Carriers by 59.1% during the first quarter. Amundi now owns 1,868,249 shares of the shipping company’s stock valued at $26,548,000 after purchasing an additional 693,683 shares in the last quarter. Philosophy Capital Management LLC grew its stake in shares of Star Bulk Carriers by 10.1% in the 1st quarter. Philosophy Capital Management LLC now owns 1,519,259 shares of the shipping company’s stock valued at $23,640,000 after purchasing an additional 139,930 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Star Bulk Carriers by 59.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company’s stock worth $20,204,000 after buying an additional 485,436 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of Star Bulk Carriers by 56.0% in the 1st quarter. Focus Partners Wealth now owns 938,208 shares of the shipping company’s stock worth $14,599,000 after buying an additional 336,873 shares in the last quarter. 33.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on SBLK. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Thursday, December 4th. Zacks Research raised Star Bulk Carriers from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Star Bulk Carriers in a report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Star Bulk Carriers has a consensus rating of “Hold” and a consensus target price of $22.00.

Star Bulk Carriers Stock Performance

Shares of NASDAQ:SBLK opened at $19.94 on Wednesday. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $20.87. The stock has a market capitalization of $2.35 billion, a P/E ratio of 38.35 and a beta of 0.75. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $18.66 and a two-hundred day moving average price of $18.37.

Star Bulk Carriers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be issued a dividend of $0.11 per share. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, December 5th. This represents a $0.44 annualized dividend and a yield of 2.2%. Star Bulk Carriers’s dividend payout ratio is 84.62%.

Star Bulk Carriers 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.