1,500 Shares in Star Bulk Carriers Corp. (NASDAQ:SBLK) Acquired by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC purchased a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,500 shares of the shipping company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. VisionPoint Advisory Group LLC purchased a new stake in Star Bulk Carriers during the 4th quarter worth $36,000. Principal Securities Inc. acquired a new position in shares of Star Bulk Carriers during the fourth quarter worth about $40,000. Creekmur Asset Management LLC purchased a new stake in shares of Star Bulk Carriers in the fourth quarter worth about $50,000. Tower Research Capital LLC TRC grew its stake in shares of Star Bulk Carriers by 1,787.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,624 shares of the shipping company’s stock valued at $98,000 after buying an additional 4,379 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Star Bulk Carriers during the 4th quarter valued at about $201,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Star Bulk Carriers Stock Performance

Star Bulk Carriers stock opened at $24.43 on Friday. Star Bulk Carriers Corp. has a 52 week low of $16.57 and a 52 week high of $27.47. The company has a current ratio of 1.43, a quick ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.05 billion, a P/E ratio of 11.00 and a beta of 1.04. The stock has a 50 day moving average of $25.26 and a 200-day moving average of $23.44.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings data on Wednesday, May 22nd. The shipping company reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. The firm had revenue of $259.39 million for the quarter, compared to the consensus estimate of $260.78 million. Star Bulk Carriers had a net margin of 20.57% and a return on equity of 12.19%. On average, analysts expect that Star Bulk Carriers Corp. will post 3.72 EPS for the current fiscal year.

Star Bulk Carriers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a $0.75 dividend. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.45. This represents a $3.00 annualized dividend and a yield of 12.28%. The ex-dividend date of this dividend was Thursday, June 6th. Star Bulk Carriers’s payout ratio is currently 135.14%.

Analyst Ratings Changes

Several analysts have issued reports on SBLK shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Star Bulk Carriers in a research report on Thursday, May 23rd. StockNews.com raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Finally, Stifel Nicolaus upped their price objective on shares of Star Bulk Carriers from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, May 24th.

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.