Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 54.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,283 shares of the shipping company’s stock after selling 22,017 shares during the quarter. Handelsbanken Fonder AB’s holdings in Star Bulk Carriers were worth $389,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Ramirez Asset Management Inc. acquired a new stake in Star Bulk Carriers in the third quarter valued at approximately $7,752,000. Artemis Investment Management LLP increased its stake in shares of Star Bulk Carriers by 407.1% in the fourth quarter. Artemis Investment Management LLP now owns 372,702 shares of the shipping company’s stock worth $7,924,000 after buying an additional 299,200 shares during the last quarter. Hosking Partners LLP increased its stake in shares of Star Bulk Carriers by 20.1% in the third quarter. Hosking Partners LLP now owns 291,317 shares of the shipping company’s stock worth $5,617,000 after buying an additional 48,691 shares during the last quarter. Jessup Wealth Management Inc bought a new stake in shares of Star Bulk Carriers in the fourth quarter worth $5,042,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Star Bulk Carriers by 61.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 204,808 shares of the shipping company’s stock worth $3,949,000 after buying an additional 77,717 shares during the last quarter. Institutional investors and hedge funds own 33.91% of the company’s stock.

Star Bulk Carriers Stock Up 0.9 %

SBLK stock opened at $24.55 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.26 and a quick ratio of 1.09. Star Bulk Carriers Corp. has a 1-year low of $16.57 and a 1-year high of $25.16. The firm has a fifty day moving average price of $23.90 and a two-hundred day moving average price of $21.71. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 13.87 and a beta of 1.12.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results on Tuesday, February 13th. The shipping company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.16. Star Bulk Carriers had a net margin of 18.28% and a return on equity of 9.77%. The firm had revenue of $263.46 million during the quarter, compared to analyst estimates of $236.40 million. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Research analysts predict that Star Bulk Carriers Corp. will post 4.19 EPS for the current year.

Star Bulk Carriers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.45 per share. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.80 annualized dividend and a yield of 7.33%. Star Bulk Carriers’s payout ratio is presently 101.70%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lifted their price target on shares of Star Bulk Carriers from $76.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th.

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.