Allianz Asset Management GmbH Has $12.14 Million Stock Position in Star Bulk Carriers Corp. $SBLK

Allianz Asset Management GmbH raised its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 34.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 652,982 shares of the shipping company’s stock after acquiring an additional 168,491 shares during the quarter. Allianz Asset Management GmbH’s holdings in Star Bulk Carriers were worth $12,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of SBLK. Jones Financial Companies Lllp increased its holdings in shares of 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 in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Star Bulk Carriers by 135.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the shipping company’s stock valued at $42,000 after buying an additional 1,391 shares during the period. Bayforest Capital Ltd bought a new stake in shares of Star Bulk Carriers during the third quarter worth $111,000. State of Alaska Department of Revenue acquired a new position in shares of Star Bulk Carriers during the third quarter valued at $121,000. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Star Bulk Carriers during the second quarter valued at $139,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Stock Up 2.2%

Star Bulk Carriers stock opened at $22.72 on Monday. The company’s 50 day simple moving average is $20.26 and its 200 day simple moving average is $19.28. Star Bulk Carriers Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $23.27. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 43.69 and a beta of 0.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56.

Star Bulk Carriers Increases Dividend

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

Analysts Set New Price Targets

SBLK has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. Zacks Research lowered shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.00.

Star Bulk Carriers Profile

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.