Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Bought by CFM Wealth Partners LLC

CFM Wealth Partners LLC raised its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 106,119 shares of the shipping company’s stock after purchasing an additional 9,895 shares during the quarter. CFM Wealth Partners LLC owned 0.13% of Star Bulk Carriers worth $1,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in Star Bulk Carriers by 229.6% during the third quarter. FMR LLC now owns 404,196 shares of the shipping company’s stock valued at $9,575,000 after buying an additional 281,552 shares during the period. Geode Capital Management LLC grew its position in shares of Star Bulk Carriers by 359.3% during the 3rd quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company’s stock valued at $10,833,000 after acquiring an additional 357,720 shares during the period. Barclays PLC increased its stake in shares of Star Bulk Carriers by 7,313.4% in the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company’s stock valued at $10,784,000 after purchasing an additional 449,113 shares in the last quarter. Autumn Glory Partners LLC acquired a new position in Star Bulk Carriers in the 3rd quarter worth about $649,000. Finally, Benson Investment Management Company Inc. acquired a new stake in Star Bulk Carriers in the third quarter valued at approximately $5,259,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $28.00 target price on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. DNB Markets raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and increased their price objective for the company from $19.30 to $20.20 in a report on Thursday, November 21st. Stifel Nicolaus cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and cut their target price for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Star Bulk Carriers presently has a consensus rating of “Hold” and a consensus price target of $23.80.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK opened at $15.37 on Monday. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 5.19 and a beta of 0.95. Star Bulk Carriers Corp. has a 52 week low of $14.30 and a 52 week high of $27.47. The firm has a 50-day simple moving average of $15.50 and a 200-day simple moving average of $19.17. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44.

Star Bulk Carriers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 15.61%. The ex-dividend date was Thursday, December 5th. Star Bulk Carriers’s dividend payout ratio is currently 81.08%.

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.