Lazard Asset Management LLC Sells 25,205 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Lazard Asset Management LLC trimmed its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 46.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,195 shares of the shipping company’s stock after selling 25,205 shares during the period. Lazard Asset Management LLC’s holdings in Star Bulk Carriers were worth $436,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in Star Bulk Carriers in the 4th quarter worth about $28,000. Parkside Financial Bank & Trust acquired a new stake in Star Bulk Carriers in the fourth quarter valued at approximately $30,000. Capital Analysts LLC boosted its stake in Star Bulk Carriers by 215.9% in the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 1,561 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Star Bulk Carriers by 177.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company’s stock worth $39,000 after buying an additional 1,676 shares during the last quarter. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Star Bulk Carriers in the fourth quarter worth $45,000. 33.91% of the stock is currently owned by institutional investors.

Star Bulk Carriers Price Performance

Star Bulk Carriers stock opened at $15.99 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 5.57 and a beta of 0.89. The company’s 50 day simple moving average is $15.03 and its 200-day simple moving average is $15.81. Star Bulk Carriers Corp. has a 1 year low of $12.06 and a 1 year high of $27.47.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.21. The firm had revenue of $159.28 million during the quarter, compared to analysts’ expectations of $162.57 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. During the same quarter in the previous year, the business posted $0.87 earnings per share. As a group, equities research analysts expect that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.05 dividend. The ex-dividend date is Friday, June 6th. Star Bulk Carriers’s dividend payout ratio (DPR) is currently 10.10%.

Wall Street Analyst Weigh In

SBLK has been the subject of several recent research reports. Jefferies Financial Group reduced their target price on shares of Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Wall Street Zen lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.05.

Star Bulk Carriers Profile

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.