Intech Investment Management LLC Grows Stock Holdings in Costamare Inc. (NYSE:CMRE)

Intech Investment Management LLC raised its holdings in Costamare Inc. (NYSE:CMRE) by 131.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 28,698 shares of the shipping company’s stock after acquiring an additional 16,293 shares during the period. Intech Investment Management LLC’s holdings in Costamare were worth $369,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CMRE. Sanctuary Advisors LLC increased its stake in Costamare by 577.2% in the third quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company’s stock valued at $1,200,000 after purchasing an additional 65,040 shares during the last quarter. Barclays PLC grew its holdings in Costamare by 291.1% in the 3rd quarter. Barclays PLC now owns 59,016 shares of the shipping company’s stock valued at $928,000 after buying an additional 43,925 shares during the period. New York State Common Retirement Fund increased its stake in shares of Costamare by 4.2% during the 4th quarter. New York State Common Retirement Fund now owns 223,565 shares of the shipping company’s stock valued at $2,873,000 after acquiring an additional 9,100 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Costamare by 10.9% during the 4th quarter. Principal Financial Group Inc. now owns 65,638 shares of the shipping company’s stock worth $843,000 after acquiring an additional 6,461 shares during the period. Finally, State Street Corp boosted its position in shares of Costamare by 2.6% in the third quarter. State Street Corp now owns 1,213,838 shares of the shipping company’s stock worth $19,082,000 after acquiring an additional 30,986 shares during the last quarter. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Stock Performance

NYSE CMRE opened at $10.10 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. Costamare Inc. has a 1-year low of $9.66 and a 1-year high of $17.58. The firm has a market capitalization of $1.21 billion, a P/E ratio of 4.14 and a beta of 1.28. The business’s 50-day simple moving average is $10.86 and its 200-day simple moving average is $12.72.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. Equities analysts predict that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Tuesday, January 21st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $0.46 dividend on an annualized basis and a yield of 4.55%. Costamare’s dividend payout ratio (DPR) is 18.85%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CMRE shares. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Jefferies Financial Group restated a “hold” rating and set a $13.00 price objective on shares of Costamare in a report on Wednesday, February 5th.

Costamare Company Profile