Mraz Amerine & Associates Inc. Sells 10,456 Shares of Star Bulk Carriers Corp. $SBLK

Mraz Amerine & Associates Inc. cut its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 9.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,775 shares of the shipping company’s stock after selling 10,456 shares during the quarter. Mraz Amerine & Associates Inc. owned about 0.09% of Star Bulk Carriers worth $1,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Star Bulk Carriers by 1,456.0% in the 1st quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company’s stock worth $48,000 after acquiring an additional 2,912 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Star Bulk Carriers by 34.0% during the second quarter. Public Employees Retirement System of Ohio now owns 3,402 shares of the shipping company’s stock worth $59,000 after purchasing an additional 864 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Star Bulk Carriers in the first quarter worth about $67,000. Mountain Hill Investment Partners Corp. raised its position in shares of Star Bulk Carriers by 66.7% in the first quarter. Mountain Hill Investment Partners Corp. now owns 5,000 shares of the shipping company’s stock valued at $78,000 after purchasing an additional 2,000 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Star Bulk Carriers during the 1st quarter valued at approximately $125,000. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Price Performance

NASDAQ:SBLK opened at $18.44 on Tuesday. Star Bulk Carriers Corp. has a 52-week low of $12.06 and a 52-week high of $22.95. The stock has a fifty day moving average of $19.00 and a 200 day moving average of $17.13. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.42 and a current ratio of 1.61. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 17.56 and a beta of 0.95.

Star Bulk Carriers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Thursday, August 28th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 28th. Star Bulk Carriers’s dividend payout ratio (DPR) is 19.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBLK. Weiss Ratings reissued a “hold (c-)” rating on shares of Star Bulk Carriers in a report on Saturday, September 27th. Jefferies Financial Group reiterated a “buy” rating and set a $22.00 price objective on shares of Star Bulk Carriers in a research note on Thursday, August 7th. Zacks Research upgraded Star Bulk Carriers from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Wall Street Zen raised Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Star Bulk Carriers presently has a consensus rating of “Hold” and an average target price of $21.07.

Star Bulk Carriers 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.