Entropy Technologies LP Purchases Shares of 19,013 Star Bulk Carriers Corp. $SBLK

Entropy Technologies LP acquired a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 19,013 shares of the shipping company’s stock, valued at approximately $437,000.

Several other large investors have also modified their holdings of the stock. Triumph Capital Management acquired a new position in Star Bulk Carriers in the 3rd quarter worth approximately $26,000. Rhumbline Advisers raised its stake 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 purchasing an additional 1,022 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Star Bulk Carriers in the third quarter valued at $33,000. Morse Asset Management Inc acquired a new stake in shares of Star Bulk Carriers in the third quarter worth $37,000. Finally, Leonteq Securities AG acquired a new stake in shares of Star Bulk Carriers in the fourth quarter worth $38,000. 33.91% of the stock is owned by institutional investors.

Star Bulk Carriers Stock Up 6.4%

SBLK stock opened at $29.15 on Friday. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 23.32 and a beta of 0.72. The company has a 50-day moving average of $26.54 and a two-hundred day moving average of $24.82. Star Bulk Carriers Corp. has a 52-week low of $16.72 and a 52-week high of $29.17. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.73 and a quick ratio of 1.55.

Star Bulk Carriers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 12th were issued a $0.50 dividend. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, June 12th. This represents a $2.00 annualized dividend and a yield of 6.9%. Star Bulk Carriers’s payout ratio is currently 160.00%.

Insider Activity at Star Bulk Carriers

In related news, Director Nikolaos Karellis sold 20,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $26.96, for a total value of $539,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Nikolaos Reskos sold 33,103 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $26.28, for a total transaction of $869,946.84. Following the completion of the transaction, the chief operating officer owned 407,775 shares of the company’s stock, valued at approximately $10,716,327. This represents a 7.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 98,103 shares of company stock valued at $2,635,792. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SBLK. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $32.00 target price on shares of Star Bulk Carriers in a research note on Friday, May 22nd. Zacks Research cut shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Jefferies Financial Group upped their price target on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.50.

Star Bulk Carriers Company 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.