Martingale Asset Management L P Acquires Shares of 43,469 Costamare Inc. (NYSE:CMRE)

Martingale Asset Management L P acquired a new position in shares of Costamare Inc. (NYSE:CMRE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 43,469 shares of the shipping company's stock, valued at approximately $559,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Costamare by 2.6% during the 3rd 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 period. American Century Companies Inc. boosted its holdings in Costamare by 18.8% in the 4th quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company's stock valued at $13,845,000 after purchasing an additional 170,412 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Costamare by 10.6% in the 4th quarter. Federated Hermes Inc. now owns 817,359 shares of the shipping company's stock valued at $10,503,000 after buying an additional 78,377 shares during the period. Empowered Funds LLC grew its stake in shares of Costamare by 5.1% in the 4th quarter. Empowered Funds LLC now owns 602,062 shares of the shipping company's stock valued at $7,736,000 after buying an additional 29,354 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Costamare by 87.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company's stock worth $7,071,000 after buying an additional 257,422 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company's stock.

Costamare Trading Up 0.5 %

Shares of NYSE:CMRE traded up $0.05 during mid-day trading on Friday, reaching $8.93. 455,264 shares of the company were exchanged, compared to its average volume of 476,215. Costamare Inc. has a 1 year low of $8.11 and a 1 year high of $17.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The firm's 50-day simple moving average is $9.93 and its 200 day simple moving average is $12.09. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 3.66 and a beta of 1.11.

Costamare (NYSE:CMRE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 14.03% and a net margin of 15.14%. Equities research analysts forecast that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Thursday, April 17th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend is Thursday, April 17th. Costamare's dividend payout ratio is presently 18.85%.

Analyst Ratings Changes

CMRE has been the subject of several analyst reports. StockNews.com lowered Costamare from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $13.00 price target on shares of Costamare in a research note on Wednesday, February 5th.

About Costamare