Connor Clark & Lunn Investment Management Ltd. Raises Stake in Costamare Inc. (NYSE:CMRE)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Costamare Inc. (NYSE:CMRE - Free Report) by 18.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 222,379 shares of the shipping company's stock after buying an additional 35,193 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Costamare worth $2,858,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP grew its holdings in shares of Costamare by 157.5% during the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company's stock valued at $51,000 after purchasing an additional 2,003 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Costamare during the 4th quarter valued at $130,000. Blue Trust Inc. grew its holdings in shares of Costamare by 43.5% during the 4th quarter. Blue Trust Inc. now owns 10,606 shares of the shipping company's stock valued at $136,000 after purchasing an additional 3,213 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Costamare during the 3rd quarter valued at $195,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Costamare in the 3rd quarter worth $213,000. Institutional investors own 58.08% of the company's stock.

Costamare Trading Down 5.1 %

Costamare stock traded down $0.55 during trading hours on Friday, reaching $10.13. The stock had a trading volume of 957,123 shares, compared to its average volume of 444,592. The company has a fifty day simple moving average of $11.01 and a 200-day simple moving average of $12.80. Costamare Inc. has a 52 week low of $9.66 and a 52 week 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 stock has a market cap of $1.21 billion, a PE ratio of 4.15 and a beta of 1.28.

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Costamare (NYSE:CMRE - Get Free Report) last posted its earnings results on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. Analysts forecast that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st were given a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $0.46 annualized dividend and a dividend yield of 4.54%. Costamare's dividend payout ratio is 18.85%.

Analyst Ratings Changes

A number of brokerages have issued reports on CMRE. StockNews.com lowered shares of Costamare from a "buy" rating to a "hold" rating in a report on Friday, March 14th. Jefferies Financial Group reissued a "hold" rating and issued a $13.00 price target on shares of Costamare in a report on Wednesday, February 5th.

About Costamare