Star Bulk Carriers Corp. $SBLK Shares Acquired by Raiffeisen Bank International AG

Raiffeisen Bank International AG increased its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 14.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,119 shares of the shipping company’s stock after purchasing an additional 7,918 shares during the quarter. Raiffeisen Bank International AG’s holdings in Star Bulk Carriers were worth $1,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBLK. Kingstone Capital Partners Texas LLC purchased a new position in Star Bulk Carriers in the 2nd quarter valued at $57,227,000. Amundi lifted its stake in shares of Star Bulk Carriers by 59.1% in the 1st quarter. Amundi now owns 1,868,249 shares of the shipping company’s stock worth $26,548,000 after acquiring an additional 693,683 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Star Bulk Carriers in the 1st quarter worth $10,734,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Star Bulk Carriers by 59.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company’s stock valued at $20,204,000 after acquiring an additional 485,436 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in shares of Star Bulk Carriers by 56.0% during the first quarter. Focus Partners Wealth now owns 938,208 shares of the shipping company’s stock worth $14,599,000 after acquiring an additional 336,873 shares during the period. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Star Bulk Carriers Price Performance

SBLK stock opened at $19.30 on Wednesday. The firm has a 50 day moving average of $18.53 and a 200-day moving average of $17.96. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 18.38 and a beta of 0.92. The company has a current ratio of 1.61, a quick ratio of 1.42 and a debt-to-equity ratio of 0.40. Star Bulk Carriers Corp. has a 12-month low of $12.06 and a 12-month high of $20.20.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, December 5th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.05. This represents a $0.44 dividend on an annualized basis and a yield of 2.3%. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 19.05%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Zacks Research upgraded shares of Star Bulk Carriers from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Star Bulk Carriers in a research note on Wednesday, October 8th. Wall Street Zen raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $22.00 price target on shares of Star Bulk Carriers in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Star Bulk Carriers currently has an average rating of “Hold” and an average target price of $21.10.

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.