Star Bulk Carriers (NASDAQ:SBLK) Sets New 52-Week High – Time to Buy?

Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) reached a new 52-week high during trading on Monday . The stock traded as high as $27.20 and last traded at $26.2750, with a volume of 458727 shares traded. The stock had previously closed at $26.29.

Analyst Ratings Changes

A number of equities research analysts recently commented on SBLK shares. Jefferies Financial Group restated a “buy” rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a research report on Wednesday, November 19th. Zacks Research lowered shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.00.

Star Bulk Carriers Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56. The firm has a market capitalization of $3.15 billion, a PE ratio of 36.63 and a beta of 0.79. The company has a 50-day moving average price of $21.85 and a 200-day moving average price of $19.89.

Star Bulk Carriers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.5%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.11. The ex-dividend date is Monday, March 9th. Star Bulk Carriers’s payout ratio is presently 202.74%.

Institutional Trading of Star Bulk Carriers

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Star Bulk Carriers in the 4th quarter worth approximately $2,505,000. Voloridge Investment Management LLC acquired a new stake in shares of Star Bulk Carriers during the fourth quarter worth $3,808,000. Millennium Management LLC boosted its holdings in shares of Star Bulk Carriers by 1,018.5% during the fourth quarter. Millennium Management LLC now owns 887,056 shares of the shipping company’s stock worth $17,049,000 after purchasing an additional 807,751 shares during the last quarter. Manatuck Hill Partners LLC increased its stake in Star Bulk Carriers by 117.3% in the fourth quarter. Manatuck Hill Partners LLC now owns 203,800 shares of the shipping company’s stock valued at $3,917,000 after purchasing an additional 110,000 shares during the last quarter. Finally, ION Fund Management Ltd acquired a new position in Star Bulk Carriers in the fourth quarter valued at $582,000. Institutional investors and hedge funds own 33.91% of the company’s stock.

About Star Bulk Carriers

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.