CFM Wealth Partners LLC Raises Stock Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

CFM Wealth Partners LLC boosted its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,119 shares of the shipping company’s stock after buying an additional 9,895 shares during the quarter. CFM Wealth Partners LLC’s holdings in Star Bulk Carriers were worth $1,586,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in Star Bulk Carriers by 51.3% during the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company’s stock valued at $46,000 after acquiring an additional 1,038 shares during the period. Quarry LP grew its holdings in shares of Star Bulk Carriers by 39.8% in the third quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 673 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Star Bulk Carriers during the 3rd quarter worth approximately $57,000. AM Squared Ltd purchased a new position in Star Bulk Carriers in the 3rd quarter valued at approximately $76,000. Finally, Avior Wealth Management LLC grew its stake in shares of Star Bulk Carriers by 26.4% in the third quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company’s stock worth $157,000 after acquiring an additional 1,385 shares in the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK opened at $15.37 on Monday. The stock’s 50-day simple moving average is $15.50 and its 200-day simple moving average is $19.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.69. The firm has a market capitalization of $1.29 billion, a PE ratio of 5.19 and a beta of 0.95. Star Bulk Carriers Corp. has a fifty-two week low of $14.30 and a fifty-two week high of $27.47.

Star Bulk Carriers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, December 5th. This represents a $2.40 annualized dividend and a dividend yield of 15.61%. Star Bulk Carriers’s dividend payout ratio is presently 81.08%.

Analyst Ratings Changes

A number of research firms recently issued reports on SBLK. Jefferies Financial Group reiterated a “buy” rating and issued a $28.00 target price on shares of Star Bulk Carriers in a report on Wednesday, November 20th. StockNews.com downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Stifel Nicolaus cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and reduced their target price for the company from $30.00 to $21.00 in a report on Wednesday, October 23rd. Finally, DNB Markets upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and boosted their price target for the stock from $19.30 to $20.20 in a report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.80.

About Star Bulk Carriers

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.