Star Bulk Carriers Corp. $SBLK Shares Acquired by Impala Asset Management LLC

Impala Asset Management LLC lifted its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 39.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 167,000 shares of the shipping company’s stock after acquiring an additional 47,000 shares during the period. Star Bulk Carriers accounts for approximately 2.0% of Impala Asset Management LLC’s portfolio, making the stock its 13th biggest holding. Impala Asset Management LLC’s holdings in Star Bulk Carriers were worth $3,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. USA Financial Formulas acquired a new position in shares of Star Bulk Carriers during the fourth quarter worth approximately $26,000. Triumph Capital Management acquired a new position in shares of Star Bulk Carriers during the third quarter worth approximately $26,000. Rhumbline Advisers boosted its position in shares of Star Bulk Carriers by 141.7% during the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock worth $32,000 after buying an additional 1,022 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Star Bulk Carriers during the third quarter worth approximately $33,000. Finally, Morse Asset Management Inc acquired a new position in shares of Star Bulk Carriers during the third quarter worth approximately $37,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Price Performance

Shares of NASDAQ:SBLK opened at $27.15 on Friday. The company’s fifty day moving average is $25.90 and its two-hundred day moving average is $23.16. The company has a quick ratio of 1.55, a current ratio of 1.73 and a debt-to-equity ratio of 0.32. Star Bulk Carriers Corp. has a 12-month low of $16.21 and a 12-month high of $28.50. The company has a market cap of $3.08 billion, a P/E ratio of 21.72 and a beta of 0.72.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 12th will be paid a dividend of $0.50 per share. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, June 12th. This represents a $2.00 annualized dividend and a yield of 7.4%. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 118.40%.

Insider Buying and Selling at Star Bulk Carriers

In other Star Bulk Carriers news, Director Nikolaos Karellis sold 20,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $26.96, for a total transaction of $539,200.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Nikolaos Reskos sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $28.49, for a total transaction of $142,450.00. Following the sale, the chief operating officer directly owned 362,775 shares in the company, valued at approximately $10,335,459.75. This trade represents a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 108,103 shares of company stock worth $2,886,212. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SBLK. Zacks Research upgraded Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $32.00 target price on shares of Star Bulk Carriers in a research report on Friday, May 22nd. Jefferies Financial Group upped their target price on Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $31.50.

Star Bulk Carriers Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.