American Century Companies Inc. Takes $11.72 Million Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

American Century Companies Inc. bought a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 480,676 shares of the shipping company’s stock, valued at approximately $11,719,000. American Century Companies Inc. owned about 0.57% of Star Bulk Carriers as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new position in shares of Star Bulk Carriers in the 2nd quarter worth $32,000. Atlas Capital Advisors LLC purchased a new position in shares of Star Bulk Carriers in the 1st quarter worth about $36,000. Principal Securities Inc. acquired a new position in shares of Star Bulk Carriers in the 4th quarter valued at about $40,000. FinTrust Capital Advisors LLC grew its holdings in shares of Star Bulk Carriers by 100.0% during the 1st 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 during the period. Finally, Creekmur Asset Management LLC acquired a new stake in Star Bulk Carriers during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft began coverage on shares of Star Bulk Carriers in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target on the stock.

Star Bulk Carriers Stock Down 1.1 %

Shares of Star Bulk Carriers stock opened at $21.59 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. Star Bulk Carriers Corp. has a 1-year low of $17.65 and a 1-year high of $27.47. The business has a 50-day moving average of $21.69 and a 200-day moving average of $23.63. The company has a market capitalization of $1.81 billion, a PE ratio of 9.73 and a beta of 0.97.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results on Wednesday, August 7th. The shipping company reported $0.78 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 quarter last year, the company posted $0.47 earnings per share. As a group, equities analysts forecast that Star Bulk Carriers Corp. will post 3.32 EPS for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 27th were paid a $0.70 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 12.97%. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 126.13%.

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.