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

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $23.27 and last traded at $23.2150, with a volume of 366451 shares trading hands. The stock had previously closed at $22.72.

Analyst Upgrades and Downgrades

A number of research firms have commented on SBLK. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Monday, December 29th. Zacks Research lowered Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price target on shares of Star Bulk Carriers in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Star Bulk Carriers presently has a consensus rating of “Hold” and a consensus price target 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’s 50 day moving average is $20.26 and its 200 day moving average is $19.28. The firm has a market cap of $2.74 billion, a P/E ratio of 44.79 and a beta of 0.79.

Star Bulk Carriers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Friday, December 5th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.9%. 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 84.62%.

Institutional Trading of Star Bulk Carriers

A number of hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. lifted its stake in Star Bulk Carriers by 44.6% in the third quarter. Alliancebernstein L.P. now owns 5,446,191 shares of the shipping company’s stock worth $101,245,000 after purchasing an additional 1,681,036 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in Star Bulk Carriers during the third quarter worth $73,967,000. Ameriprise Financial Inc. raised its holdings in Star Bulk Carriers by 33.2% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Star Bulk Carriers by 59.7% during 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 valued at $20,204,000 after purchasing an additional 485,436 shares during the last quarter. Finally, Focus Partners Wealth grew its stake in shares of Star Bulk Carriers by 4.4% during the third quarter. Focus Partners Wealth now owns 998,094 shares of the shipping company’s stock worth $18,555,000 after acquiring an additional 42,522 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

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.