823,575 Star Bulk Carriers Corp. $SBLK Shares Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP raised its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 108.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,585,263 shares of the shipping company’s stock after acquiring an additional 823,575 shares during the period. Artemis Investment Management LLP’s holdings in Star Bulk Carriers were worth $46,543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Impala Asset Management LLC boosted its stake in Star Bulk Carriers by 39.2% in the 4th quarter. Impala Asset Management LLC now owns 167,000 shares of the shipping company’s stock worth $3,210,000 after purchasing an additional 47,000 shares during the period. Bank of America Corp DE lifted its holdings in shares of Star Bulk Carriers by 48.5% in the first quarter. Bank of America Corp DE now owns 565,562 shares of the shipping company’s stock valued at $12,991,000 after purchasing an additional 184,837 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Star Bulk Carriers during the first quarter worth about $909,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Star Bulk Carriers during the first quarter worth about $4,788,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Star Bulk Carriers during the second quarter worth about $1,371,000. Institutional investors and hedge funds own 33.91% of the company’s stock.

Star Bulk Carriers Stock Up 2.1%

NASDAQ SBLK traded up $0.61 during trading hours on Thursday, hitting $30.30. 733,166 shares of the company traded hands, compared to its average volume of 1,473,232. The business’s 50-day moving average is $30.18 and its 200-day moving average is $27.28. Star Bulk Carriers Corp. has a twelve month low of $16.72 and a twelve month high of $32.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 1.91. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 0.12 and a beta of 0.74.

Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results on Wednesday, August 5th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.26. The company had revenue of $284.60 million for the quarter, compared to analysts’ expectations of $284.29 million. Star Bulk Carriers had a net margin of 23.87% and a return on equity of 11.72%. Sell-side analysts anticipate that Star Bulk Carriers Corp. will post 4.38 earnings per share for the current year.

Star Bulk Carriers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $3.60 annualized dividend and a yield of 11.9%. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.50. Star Bulk Carriers’s payout ratio is 141.18%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SBLK. Weiss Ratings raised Star Bulk Carriers from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 27th. Zacks Research downgraded Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Star Bulk Carriers presently has an average rating of “Moderate Buy” and an average target price of $31.50.

Insider Buying and Selling at Star Bulk Carriers

In related news, insider Alexandros Pappas acquired 74,400 shares of Star Bulk Carriers stock in a transaction on Tuesday, September 15th. The stock was purchased at an average cost of $28.27 per share, with a total value of $2,103,288.00. Following the completion of the transaction, the insider directly owned 2,532,150 shares in the company, valued at $71,583,880.50. This trade represents a 3.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charis Plakantonaki acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $28.27 per share, for a total transaction of $84,810.00. Following the completion of the acquisition, the insider owned 58,778 shares of the company’s stock, valued at approximately $1,661,654.06. The trade was a 5.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 170,400 shares of company stock worth $4,817,208 and have sold 101,150 shares worth $3,106,795. Company insiders own 0.90% of the company’s stock.

Star Bulk Carriers Profile

Star Bulk Carriers Corp. (NASDAQ:SBLK) is a global dry bulk shipping company that owns and operates vessels used to transport major and minor bulk commodities. Its cargoes include iron ore, grains, bauxite, fertilizers, steel products and other raw materials.

The company operates a diversified fleet of dry bulk carriers, including Capesize, Panamax, Ultramax and Supramax vessels. These ships serve international trade routes and transport commodities between producers, exporters and industrial customers across major global markets.

Star Bulk was founded in 2006 and is headquartered in Maroussi, Greece.