Rhumbline Advisers Reduces Position in Costamare Inc. (NYSE:CMRE)

Rhumbline Advisers decreased its holdings in shares of Costamare Inc. (NYSE:CMRE) by 6.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 80,835 shares of the shipping company’s stock after selling 5,119 shares during the quarter. Rhumbline Advisers’ holdings in Costamare were worth $1,328,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Unison Advisors LLC grew its holdings in shares of Costamare by 1.0% in the second quarter. Unison Advisors LLC now owns 82,707 shares of the shipping company’s stock valued at $1,359,000 after purchasing an additional 854 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Costamare by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 74,571 shares of the shipping company’s stock valued at $1,225,000 after purchasing an additional 990 shares during the period. Quarry LP grew its holdings in shares of Costamare by 48.5% in the fourth quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 1,376 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Costamare by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock valued at $459,000 after purchasing an additional 1,390 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Costamare by 12.7% in the fourth quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company’s stock valued at $138,000 after purchasing an additional 1,498 shares during the period. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CMRE. StockNews.com raised shares of Costamare from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus upped their price objective on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group upped their price objective on shares of Costamare from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, July 31st.

Costamare Trading Up 0.6 %

NYSE CMRE opened at $14.43 on Friday. The firm’s 50-day moving average is $14.02 and its two-hundred day moving average is $13.67. Costamare Inc. has a 12 month low of $8.54 and a 12 month high of $17.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.61 and a quick ratio of 1.54. The stock has a market capitalization of $1.70 billion, a P/E ratio of 5.59 and a beta of 1.37.

Costamare (NYSE:CMRE) last posted its earnings results on Wednesday, July 31st. The shipping company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Costamare had a net margin of 19.63% and a return on equity of 13.63%. The company had revenue of $515.42 million for the quarter, compared to analysts’ expectations of $380.41 million. On average, sell-side analysts anticipate that Costamare Inc. will post 3.05 earnings per share for the current year.

Costamare Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th were given a $0.115 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.46 dividend on an annualized basis and a yield of 3.19%. Costamare’s payout ratio is currently 17.83%.

Costamare Company Profile