Adams Asset Advisors LLC Buys Shares of 100,000 Star Bulk Carriers Corp. (NASDAQ:SBLK)

Adams Asset Advisors LLC purchased a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 100,000 shares of the shipping company’s stock, valued at approximately $1,495,000. Adams Asset Advisors LLC owned 0.12% of Star Bulk Carriers at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of Star Bulk Carriers by 190.5% in the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock valued at $49,000 after acquiring an additional 1,328 shares during the last quarter. Quarry LP grew its holdings in shares of Star Bulk Carriers by 39.8% during the third quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock worth $56,000 after purchasing an additional 673 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Star Bulk Carriers in the third quarter valued at approximately $57,000. Point72 DIFC Ltd bought a new position in Star Bulk Carriers in the 2nd quarter valued at approximately $72,000. Finally, AM Squared Ltd acquired a new stake in Star Bulk Carriers during the 3rd quarter worth approximately $76,000. 33.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SBLK shares. Jefferies Financial Group reiterated a “buy” rating and set a $28.00 price objective on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. StockNews.com raised Star Bulk Carriers from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus cut Star Bulk Carriers from a “buy” rating to a “hold” rating and decreased their target price for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, DNB Markets raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and raised their price objective for the stock from $19.30 to $20.20 in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.80.

Star Bulk Carriers Stock Down 1.6 %

Star Bulk Carriers stock traded down $0.25 during midday trading on Monday, hitting $15.00. 1,063,616 shares of the stock were exchanged, compared to its average volume of 1,835,141. The business’s 50-day moving average price is $16.94 and its 200-day moving average price is $20.12. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 5.07, a price-to-earnings-growth ratio of 3.95 and a beta of 0.98. Star Bulk Carriers Corp. has a 52-week low of $14.37 and a 52-week high of $27.47. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44.

Star Bulk Carriers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 16.00%. The ex-dividend date of this dividend was Thursday, December 5th. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 81.08%.

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.