Star Bulk Carriers Corp. $SBLK Position Trimmed by Dakota Wealth Management

Dakota Wealth Management trimmed its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 31.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,141 shares of the shipping company’s stock after selling 28,243 shares during the quarter. Dakota Wealth Management owned 0.05% of Star Bulk Carriers worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Allianz Asset Management GmbH grew its holdings in shares of Star Bulk Carriers by 34.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 652,982 shares of the shipping company’s stock valued at $12,139,000 after acquiring an additional 168,491 shares in the last quarter. Boston Partners boosted its position in Star Bulk Carriers by 36.5% during the second quarter. Boston Partners now owns 171,186 shares of the shipping company’s stock valued at $2,953,000 after purchasing an additional 45,818 shares during the last quarter. DNB Asset Management AS grew its stake in Star Bulk Carriers by 1.9% in the second quarter. DNB Asset Management AS now owns 813,351 shares of the shipping company’s stock valued at $14,030,000 after purchasing an additional 14,792 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in Star Bulk Carriers in the 2nd quarter worth about $139,000. Finally, Raiffeisen Bank International AG raised its stake in shares of Star Bulk Carriers by 14.1% during the 2nd quarter. Raiffeisen Bank International AG now owns 64,119 shares of the shipping company’s stock worth $1,096,000 after purchasing an additional 7,918 shares in the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Trading Down 1.6%

NASDAQ:SBLK opened at $24.89 on Thursday. The company’s 50 day moving average is $21.55 and its 200-day moving average is $19.78. The company has a quick ratio of 1.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $25.82. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 47.86 and a beta of 0.79.

Star Bulk Carriers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 9th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.9%. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.11. The ex-dividend date is Monday, March 9th. Star Bulk Carriers’s dividend payout ratio is currently 84.62%.

Analysts Set New Price Targets

Several brokerages recently commented on SBLK. Jefferies Financial Group reissued a “buy” rating and issued a $22.00 price target on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. Zacks Research downgraded shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.00.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.