NBC Securities Inc. Sells 750 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

NBC Securities Inc. decreased its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 6.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,390 shares of the shipping company’s stock after selling 750 shares during the period. NBC Securities Inc.’s holdings in Star Bulk Carriers were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its stake in Star Bulk Carriers by 5.8% during the 4th quarter. Apollon Wealth Management LLC now owns 20,612 shares of the shipping company’s stock worth $438,000 after acquiring an additional 1,131 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Star Bulk Carriers by 7.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,700 shares of the shipping company’s stock valued at $322,000 after buying an additional 1,200 shares during the last quarter. Ruffer LLP raised its position in shares of Star Bulk Carriers by 8.3% during the third quarter. Ruffer LLP now owns 16,713 shares of the shipping company’s stock valued at $320,000 after buying an additional 1,274 shares during the last quarter. VisionPoint Advisory Group LLC bought a new stake in shares of Star Bulk Carriers during the fourth quarter valued at approximately $36,000. Finally, Principal Securities Inc. bought a new stake in shares of Star Bulk Carriers during the fourth quarter valued at approximately $40,000. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Trading Down 2.7 %

Shares of SBLK opened at $24.10 on Friday. The company’s fifty day moving average is $25.17 and its 200 day moving average is $23.34. Star Bulk Carriers Corp. has a fifty-two week low of $16.57 and a fifty-two week high of $27.47. The stock has a market capitalization of $2.02 billion, a PE ratio of 10.86 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.25 and a current ratio of 1.43.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, May 22nd. The shipping company reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $259.39 million for the quarter, compared to analysts’ expectations of $260.78 million. Star Bulk Carriers had a net margin of 20.57% and a return on equity of 12.19%. Sell-side analysts expect that Star Bulk Carriers Corp. will post 3.72 earnings per share 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. Shareholders of record on Thursday, June 6th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 12.45%. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, June 6th. Star Bulk Carriers’s payout ratio is presently 135.14%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SBLK shares. Stifel Nicolaus lifted 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. StockNews.com upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $30.00 price target on shares of Star Bulk Carriers in a research report on Thursday, May 23rd.

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.