Raymond James & Associates has recently increased its holdings in Star Bulk Carriers Corp. by 24.3% during the fourth quarter, which is an incredible feat for this reputable institutional investor that currently owns 46,234 shares of the shipping company’s stock. This move has cost them $889,000 at the end of their latest report thereby increasing their position substantially within a growing and dynamic market.
Star Bulk Carriers Corp is a leading provider of seaborne transportation solutions in the dry bulk sector especially with regard to iron ore, minerals and grain as well as bauxite, fertilizers and steel products. These types of vessels are major players within numerous worldwide trade routes and help drive economic growth.
Founded on December 13th, 2006 in Athens Greece by Petros Alexandros Pappas, the company has been dedicated to providing superior customer service through constant innovation and a focus on excellence. They have become known for their reliability and flexibility – two traits which help them stand out from other companies in the bulk shipping industry.
Aside from Raymond James & Associates’ increase in holdings, Star Bulk Carriers recently announced their upcoming quarterly dividend payout to shareholders of record as of Wednesday, June 7th. The dividends will be paid on Tuesday, June 27th amounting to $0.35 per share which represents a great opportunity for those who are looking for stable income sources with annualized yields of up to 7.51%.
All these accomplishments make Star Bulk Carriers a desirable investment option for those looking for long-term value while maintaining sustainable risks overtime. The ex-dividend date itself is expected to be quite popular since it provides an opportunity for new interested investors find footing within this growing industry.
Therefore investing in Star Bulk Carriers Corp now could give long term value creation opportunities given their recent positive financial performance results and strong commitment to ongoing customer satisfaction over time.
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Hedge Funds Increasing Stake in Star Bulk Carriers Corp.
Star Bulk Carriers Corp., a shipping company listed on the NASDAQ as SBLK, has recently undergone changes in the positions of several hedge fund investors. Captrust Financial Advisors, for instance, increased its holdings by 29.2% during the first quarter and now owns 2,656 shares worth $79,000. Similarly, Advisory Services Network LLC’s stake grew by 3.2%, reaching 25,305 shares valued at $751,000; Cambridge Investment Research Advisors Inc.’s investment grew by 1.0%, owning 99,683 shares worth $1,917,000; Principle Wealth Partners LLC added an additional 8.7%, owning 15,097 shares worth $290,000; and Victory Capital Management Inc.’s ownership rose by 6.1%, owning 22,400 shares worth $392,000. Hedge funds and institutional investors now hold over half of Star Bulk Carriers’ stock at a market cap of $1.92 billion.
Shares for SBLK began trading at $18.64 on Monday with a price-to-earnings ratio of 4.33 and beta of 1.04 within the shipping industry. The firm averages a quick ratio of 1.43 and current ratio of 1.64 accompanied by a debt-to-equity ratio of 0.52 while shifting between a fifty-two week low of $16.85 and a high of $32.85 supported by its average position in values under the simple moving average over respective durations of fifty or two-hundred days displayed at <$19 or <$20 respectively. Major financial analysts have taken notice following data analyses based on reports issued about SBLK including Jefferies Financial Group who 'reiterated' its buy rating during Q4 warning that future fluctuations may occur due to global supply shrinking demand throughout March than previous years as StockNews.com initiated coverage on SBLK to hold ratings on May despite Stifel Nicolaus lifting price expectations by ($27)-($30) due to its necessary adaptation proven from recent events.