Star Bulk Carriers (NASDAQ:SBLK) Sets New 12-Month High – Should You Buy?

Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) hit a new 52-week high during trading on Wednesday . The stock traded as high as $21.50 and last traded at $21.3110, with a volume of 333846 shares changing hands. The stock had previously closed at $21.11.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SBLK. Zacks Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Monday, December 29th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $22.00 target price on shares of Star Bulk Carriers in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Star Bulk Carriers has an average rating of “Buy” and an average target price of $22.00.

Star Bulk Carriers Trading Up 0.8%

The firm’s 50-day moving average price is $19.60 and its 200 day moving average price is $18.96. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 41.25 and a beta of 0.75. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36.

Star Bulk Carriers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Friday, December 5th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.1%. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, December 5th. Star Bulk Carriers’s payout ratio is presently 84.62%.

Institutional Trading of Star Bulk Carriers

Large investors have recently made changes to their positions in the company. Mirabella Financial Services LLP acquired a new position in Star Bulk Carriers during the 3rd quarter worth approximately $73,967,000. Alliancebernstein L.P. bought a new stake in shares of Star Bulk Carriers during the second quarter valued at approximately $64,949,000. Ameriprise Financial Inc. raised its position in shares of Star Bulk Carriers by 33.2% during the third quarter. Ameriprise Financial Inc. now owns 2,166,892 shares of the shipping company’s stock worth $40,283,000 after purchasing an additional 539,567 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Star Bulk Carriers by 59.7% in the 1st 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 worth $20,204,000 after purchasing an additional 485,436 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in Star Bulk Carriers by 54.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 484,491 shares of the shipping company’s stock valued at $8,357,000 after purchasing an additional 170,502 shares during the period. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Company 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.