Star Bulk Carriers (NASDAQ:SBLK) Reaches New 12-Month High – Still a Buy?

Star Bulk Carriers Corp. (NASDAQ:SBLK) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $23.27 and last traded at $23.2150, with a volume of 366451 shares. The stock had previously closed at $22.72.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SBLK. Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Monday, December 29th. Jefferies Financial Group restated a “buy” rating and issued a $22.00 target price on shares of Star Bulk Carriers in a research note 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 issued a Hold rating to the company. Based on data from MarketBeat, Star Bulk Carriers presently has an average rating of “Hold” and a consensus target price of $22.00.

Star Bulk Carriers Trading Up 2.5%

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 stock has a market cap of $2.74 billion, a P/E ratio of 44.79 and a beta of 0.79. The firm’s fifty day moving average price is $20.26 and its two-hundred day moving average price is $19.28.

Star Bulk Carriers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Friday, December 5th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.05. Star Bulk Carriers’s payout ratio is 84.62%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SBLK. BNP Paribas Financial Markets lifted 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 acquiring an additional 616 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Star Bulk Carriers by 20.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,114 shares of the shipping company’s stock worth $76,000 after purchasing an additional 712 shares during the period. Jones Financial Companies Lllp lifted 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 valued at $46,000 after purchasing an additional 802 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of Star Bulk Carriers by 5.6% in the third quarter. Vident Advisory LLC now owns 16,902 shares of the shipping company’s stock worth $314,000 after purchasing an additional 891 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in 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 buying an additional 1,022 shares during the period. 33.91% of the stock is owned by 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.