Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Acquired by Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group increased its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 34.1% during the second quarter, HoldingsChannel.com reports. The fund owned 295,000 shares of the shipping company’s stock after buying an additional 75,000 shares during the period. Star Bulk Carriers makes up approximately 2.8% of Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings, making the stock its 12th largest holding. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Star Bulk Carriers were worth $7,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new stake in Star Bulk Carriers during the 2nd quarter worth approximately $32,000. Atlas Capital Advisors LLC purchased a new stake in shares of Star Bulk Carriers during the first quarter worth approximately $36,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Star Bulk Carriers by 100.0% during the first quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock worth $48,000 after purchasing an additional 1,000 shares during the period. Creekmur Asset Management LLC purchased a new position in Star Bulk Carriers in the 4th quarter valued at $50,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Star Bulk Carriers in the 2nd quarter valued at $54,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Price Performance

Star Bulk Carriers stock opened at $23.59 on Wednesday. The company has a market cap of $1.98 billion, a P/E ratio of 10.63 and a beta of 0.97. Star Bulk Carriers Corp. has a one year low of $17.91 and a one year high of $27.47. The business has a fifty day moving average of $21.56 and a two-hundred day moving average of $23.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.34 and a current ratio of 1.51.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.01). Star Bulk Carriers had a net margin of 24.05% and a return on equity of 13.58%. The company had revenue of $352.88 million during the quarter, compared to analyst estimates of $329.38 million. During the same quarter last year, the business earned $0.47 EPS. As a group, analysts predict that Star Bulk Carriers Corp. will post 3.32 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 11.87%. The ex-dividend date of this dividend was Tuesday, August 27th. Star Bulk Carriers’s payout ratio is currently 126.13%.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft began coverage on shares of Star Bulk Carriers in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target on the stock.

About Star Bulk Carriers

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.