5 Best Shipping and Container Stocks to Buy Now

4. Star Bulk Carriers Corp. (NASDAQ:SBLK)

Number of Hedge Fund Holders: 18

Athens, Greece based Star Bulk Carriers Corp. (NASDAQ:SBLK) is a leading global shipping company that provides worldwide seaborne transportation of major bulks. Its fleet comprises of 128 vessels, with an aggregate capacity of more than 14 million DWT, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax and Supramax vessels.

Similar to other shipping companies, Star Bulk Carriers Corp. (NASDAQ:SBLK) also pays a significant portion of its dividends in the form of dividends. In August, its board of directors declared a quarterly dividend of $1.65 per share. Its shares had a dividend yield of 32.31%, as of October 17.

On September 26, Jefferies analyst Omar Nokta lowered the price target on Star Bulk Carriers Corp. (NASDAQ:SBLK) shares to $26 from $30 and maintained a ‘Buy’ rating for the shares. Even though steel and iron ore demand has been impacted by slowdown in the economy of China, coal shipments are still expected to remain on an upward trend for the short to medium term.

According to the Insider Monkey data on 895 leading hedge funds, 18 hedge funds were long Star Bulk Carriers Corp. (NASDAQ:SBLK) shares as of Q2 2022, with the total shares held by hedge funds valued at $784 million. Howard Marks’ Oaktree Capital Management was the largest hedge fund shareholder with ownership of 26 million shares valued at $650 million.