35,344 Shares in Star Bulk Carriers Corp. (NASDAQ:SBLK) Purchased by Headlands Technologies LLC

Headlands Technologies LLC acquired a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 35,344 shares of the shipping company’s stock, valued at approximately $862,000.

Other large investors also recently added to or reduced their stakes in the company. Artemis Investment Management LLP raised its stake in shares of Star Bulk Carriers by 29.4% during the second quarter. Artemis Investment Management LLP now owns 1,025,802 shares of the shipping company’s stock valued at $25,009,000 after acquiring an additional 233,000 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Star Bulk Carriers during the 2nd quarter valued at $23,212,000. Gilman Hill Asset Management LLC lifted its holdings in shares of Star Bulk Carriers by 0.3% in the 1st quarter. Gilman Hill Asset Management LLC now owns 404,110 shares of the shipping company’s stock worth $9,646,000 after buying an additional 1,046 shares during the period. DNB Asset Management AS bought a new position in shares of Star Bulk Carriers during the 2nd quarter worth $9,694,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Star Bulk Carriers during the first quarter valued at $7,814,000. 33.91% of the stock is owned by hedge funds and other institutional investors.

Star Bulk Carriers Stock Up 2.6 %

Shares of Star Bulk Carriers stock opened at $20.45 on Thursday. Star Bulk Carriers Corp. has a 52-week low of $17.12 and a 52-week high of $27.47. The firm’s 50 day moving average price is $22.11 and its 200-day moving average price is $23.77. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.72 billion, a P/E ratio of 9.21 and a beta of 0.97.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). Star Bulk Carriers had a return on equity of 13.58% and a net margin of 24.05%. The firm had revenue of $352.88 million during the quarter, compared to analysts’ expectations of $329.38 million. During the same period in the prior year, the firm posted $0.47 earnings per share. On average, sell-side analysts predict that Star Bulk Carriers Corp. will post 3.32 EPS for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 13.69%. The ex-dividend date was Tuesday, August 27th. Star Bulk Carriers’s dividend payout ratio is currently 126.13%.

Wall Street Analyst Weigh In

SBLK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Star Bulk Carriers in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price on the stock. StockNews.com raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Star Bulk Carriers in a research report on Thursday, May 23rd. Finally, Stifel Nicolaus boosted their price target on Star Bulk Carriers from $28.00 to $32.00 and gave the stock 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.