Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Sells 121,231 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group reduced its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 41.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 173,769 shares of the shipping company’s stock after selling 121,231 shares during the period. Star Bulk Carriers accounts for approximately 1.5% of Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings, making the stock its 15th biggest position. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Star Bulk Carriers were worth $2,598,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Philosophy Capital Management LLC bought a new stake in Star Bulk Carriers in the 3rd quarter valued at $24,842,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Star Bulk Carriers in the 3rd quarter valued at $17,137,000. Barclays PLC boosted its holdings 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 valued at $10,784,000 after purchasing an additional 449,113 shares during the period. Stifel Financial Corp boosted its holdings in Star Bulk Carriers by 152.2% in the 3rd quarter. Stifel Financial Corp now owns 685,053 shares of the shipping company’s stock valued at $16,229,000 after purchasing an additional 413,423 shares during the period. Finally, Amundi boosted its holdings in Star Bulk Carriers by 48.9% in the 4th quarter. Amundi now owns 1,174,566 shares of the shipping company’s stock valued at $17,454,000 after purchasing an additional 385,980 shares during the period. 33.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SBLK shares. DNB Markets upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and increased their price objective for the company from $19.30 to $20.20 in a research note on Thursday, November 21st. Jefferies Financial Group dropped 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 research note on Wednesday, February 19th. Finally, StockNews.com cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.05.

Star Bulk Carriers Trading Up 4.5 %

Shares of SBLK stock opened at $16.50 on Thursday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 5.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. The firm has a fifty day moving average of $15.37 and a 200-day moving average of $17.91. Star Bulk Carriers Corp. has a 52-week low of $14.30 and a 52-week high of $27.47.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.08). The firm had revenue of $308.92 million for the quarter, compared to analyst estimates of $230.91 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Tuesday, March 4th. Star Bulk Carriers’s dividend payout ratio (DPR) 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.