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

Paradiem LLC lessened its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 45.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Jessup Wealth Management Inc acquired a new position in shares of Star Bulk Carriers during the 4th quarter worth about $5,042,000. Kestra Advisory Services LLC raised its holdings in Star Bulk Carriers by 209.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 52,009 shares of the shipping company’s stock valued at $1,003,000 after acquiring an additional 35,220 shares during the last quarter. Hosking Partners LLP raised its holdings in Star Bulk Carriers by 20.1% in the 3rd quarter. Hosking Partners LLP now owns 291,317 shares of the shipping company’s stock valued at $5,617,000 after acquiring an additional 48,691 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Star Bulk Carriers in the 3rd quarter valued at about $277,000. Finally, Artemis Investment Management LLP raised its holdings in Star Bulk Carriers by 407.1% in the 4th quarter. Artemis Investment Management LLP now owns 372,702 shares of the shipping company’s stock valued at $7,924,000 after acquiring an additional 299,200 shares during the last quarter. Institutional investors and hedge funds own 33.91% of the company’s stock.

Star Bulk Carriers Trading Up 1.2 %

Shares of Star Bulk Carriers stock traded up $0.29 during mid-day trading on Friday, hitting $24.71. The stock had a trading volume of 1,315,816 shares, compared to its average volume of 1,686,426. The company has a quick ratio of 1.09, a current ratio of 1.26 and a debt-to-equity ratio of 0.59. The firm 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 two-hundred day moving average of $21.61. Star Bulk Carriers Corp. has a 12-month low of $16.57 and a 12-month high of $25.16.

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

Star Bulk Carriers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.28%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.22. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 101.70%.

Analyst Ratings Changes

Separately, Stifel Nicolaus increased their price objective on shares of Star Bulk Carriers from $76.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, February 14th.

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.