Vanguard Personalized Indexing Management LLC Makes New Investment in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Vanguard Personalized Indexing Management LLC acquired a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 22,171 shares of the shipping company’s stock, valued at approximately $539,000.

Several other large investors have also made changes to their positions in SBLK. Nisa Investment Advisors LLC purchased a new stake in Star Bulk Carriers in the 2nd quarter worth $32,000. Atlas Capital Advisors LLC acquired a new stake in shares of Star Bulk Carriers in the first quarter valued at about $36,000. FinTrust Capital Advisors LLC increased its stake in shares of Star Bulk Carriers by 100.0% during the first quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock worth $48,000 after purchasing an additional 1,000 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Star Bulk Carriers during the 2nd quarter worth about $54,000. Finally, Creekmur Asset Management LLC purchased a new position in Star Bulk Carriers in the 4th quarter valued at about $50,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft started coverage on Star Bulk Carriers in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective for the company.

Star Bulk Carriers Trading Up 3.9 %

Shares of SBLK opened at $23.68 on Friday. Star Bulk Carriers Corp. has a 52-week low of $17.91 and a 52-week high of $27.47. The stock has a market cap of $1.99 billion, a PE ratio of 10.67 and a beta of 0.97. The firm’s fifty day moving average is $21.59 and its two-hundred day moving average is $23.59. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.48.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data 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). The business had revenue of $352.88 million for the quarter, compared to analysts’ expectations of $329.38 million. Star Bulk Carriers had a net margin of 24.05% and a return on equity of 13.58%. During the same period in the prior year, the company posted $0.47 EPS. Research analysts forecast that Star Bulk Carriers Corp. will post 3.32 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 11.82%. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 126.13%.

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.