Boston Partners Trims Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Boston Partners lessened its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 15.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 158,884 shares of the shipping company’s stock after selling 28,901 shares during the period. Boston Partners owned 0.19% of Star Bulk Carriers worth $2,375,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SBLK. Philosophy Capital Management LLC purchased a new position in shares of Star Bulk Carriers in the third quarter worth $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 lifted its stake 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 worth $10,784,000 after purchasing an additional 449,113 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Star Bulk Carriers by 152.2% during 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 last quarter. Finally, Amundi grew its position in shares of Star Bulk Carriers by 48.9% during the fourth 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 in the last quarter. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Trading Down 3.3 %

SBLK opened at $16.58 on Friday. The stock has a 50-day moving average of $15.60 and a 200 day moving average of $17.72. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. Star Bulk Carriers Corp. has a 12 month low of $14.30 and a 12 month high of $27.47. The firm has a market cap of $1.39 billion, a P/E ratio of 5.78 and a beta of 1.03.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.08). Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The company had revenue of $308.92 million for the quarter, compared to the consensus estimate of $230.91 million. As a group, research analysts forecast that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Tuesday, March 4th. Star Bulk Carriers’s dividend payout ratio is currently 12.54%.

Analysts Set New Price Targets

A number of brokerages recently commented on SBLK. Jefferies Financial Group dropped their price target on 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. StockNews.com downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.05.

About Star Bulk Carriers

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.