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

Star Bulk Carriers Corp. (NASDAQ:SBLK) shares hit a new 52-week high on Tuesday . The stock traded as high as $25.82 and last traded at $25.5020, with a volume of 397492 shares. The stock had previously closed at $25.24.

Analysts Set New Price Targets

SBLK has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 19th. Finally, Zacks Research downgraded Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.00.

Star Bulk Carriers Stock Performance

The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 47.71 and a beta of 0.79. The stock has a 50 day simple moving average of $21.55 and a 200 day simple moving average of $19.78. The company has a quick ratio of 1.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Star Bulk Carriers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.48 annualized dividend and a dividend yield of 6.0%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.11. Star Bulk Carriers’s dividend payout ratio is 84.62%.

Institutional Trading of Star Bulk Carriers

Several large investors have recently added to or reduced their stakes in SBLK. Public Employees Retirement System of Ohio boosted its position in Star Bulk Carriers by 10.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,536 shares of the shipping company’s stock worth $87,000 after acquiring an additional 422 shares during the period. Magnetar Financial LLC boosted its position in Star Bulk Carriers by 3.1% during the fourth quarter. Magnetar Financial LLC now owns 20,001 shares of the shipping company’s stock valued at $384,000 after purchasing an additional 604 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Star Bulk Carriers by 4.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 13,695 shares of the shipping company’s stock valued at $236,000 after buying an additional 616 shares in the last quarter. Jones Financial Companies Lllp grew its position in Star Bulk Carriers by 50.8% in the third quarter. Jones Financial Companies Lllp now owns 2,381 shares of the shipping company’s stock worth $46,000 after acquiring an additional 802 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in shares of Star Bulk Carriers by 5.6% during the 3rd quarter. Vident Advisory LLC now owns 16,902 shares of the shipping company’s stock valued at $314,000 after purchasing an additional 891 shares in the last quarter. 33.91% of the stock is 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.