Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Sold by Paradiem LLC

Paradiem LLC trimmed its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 45.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,538 shares of the shipping company’s stock after selling 22,749 shares during the period. Paradiem LLC’s holdings in Star Bulk Carriers were worth $585,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SBLK. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Star Bulk Carriers in the 3rd quarter valued at approximately $83,000. NBC Securities Inc. acquired a new position in shares of Star Bulk Carriers in the 3rd quarter valued at approximately $214,000. Axxcess Wealth Management LLC acquired a new stake in shares of Star Bulk Carriers during the 3rd quarter valued at approximately $223,000. Lauer Wealth LLC acquired a new stake in shares of Star Bulk Carriers during the 4th quarter valued at approximately $235,000. Finally, Regal Investment Advisors LLC raised its position in shares of Star Bulk Carriers by 12.0% during the 3rd quarter. Regal Investment Advisors LLC now owns 12,375 shares of the shipping company’s stock valued at $239,000 after acquiring an additional 1,325 shares in the last quarter. 33.91% of the stock is owned by institutional investors and hedge funds.

Star Bulk Carriers Stock Performance

SBLK traded up $0.29 during trading on Friday, reaching $24.71. 1,315,816 shares of the company were exchanged, compared to its average volume of 1,686,426. The stock has a market cap of $2.08 billion, a P/E ratio of 13.96 and a beta of 1.12. The firm has a 50 day moving average of $23.76 and a 200 day moving average of $21.61. The company has a current ratio of 1.26, a quick ratio of 1.09 and a debt-to-equity ratio of 0.59. Star Bulk Carriers Corp. has a 52 week low of $16.57 and a 52 week high of $25.16.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings data on Tuesday, February 13th. The shipping company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.16. Star Bulk Carriers had a return on equity of 9.77% and a net margin of 18.28%. The firm had revenue of $263.46 million during the quarter, compared to the consensus estimate of $236.40 million. During the same period in the prior year, the business earned $0.90 EPS. On average, sell-side analysts forecast that Star Bulk Carriers Corp. will post 4.19 EPS for the current fiscal year.

Star Bulk Carriers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 12th were paid a $0.45 dividend. This is a boost 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 dividend yield of 7.28%. Star Bulk Carriers’s dividend payout ratio is presently 101.70%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upped their price objective on 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.