Star Bulk Carriers (NASDAQ:SBLK) Reaches New 12-Month High – What’s Next?

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s stock price hit a new 52-week high on Monday . The company 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 Upgrades and Downgrades

SBLK has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Monday, December 29th. Zacks Research cut Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $22.00 price objective 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 issued a Hold rating to the company. According to MarketBeat.com, Star Bulk Carriers presently has an average rating of “Hold” and an average 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 has a market cap of $3.09 billion, a price-to-earnings ratio of 35.96 and a beta of 0.73. The stock’s fifty day moving average price is $22.16 and its 200-day moving average price is $20.00.

Star Bulk Carriers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 9th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.11. This represents a $1.48 dividend on an annualized basis and a yield of 5.6%. Star Bulk Carriers’s payout ratio is 60.27%.

Institutional Investors Weigh In On Star Bulk Carriers

Hedge funds and other institutional investors have recently made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of Star Bulk Carriers in the 4th quarter valued at approximately $26,000. Triumph Capital Management acquired a new position in shares of Star Bulk Carriers during the 3rd quarter worth $26,000. Rhumbline Advisers raised its holdings in shares of Star Bulk Carriers by 141.7% during the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at $33,000. Finally, Leonteq Securities AG acquired a new position in Star Bulk Carriers during the fourth quarter worth $38,000. 33.91% of the stock is owned by hedge funds and other institutional investors.

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.