Los Angeles Capital Management LLC lessened its holdings in shares of Costamare Inc. (NYSE:CMRE - Free Report) by 73.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,844 shares of the shipping company's stock after selling 117,735 shares during the period. Los Angeles Capital Management LLC's holdings in Costamare were worth $551,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Gladius Capital Management LP purchased a new position in shares of Costamare during the third quarter worth $35,000. Quarry LP raised its stake in shares of Costamare by 157.5% in the third quarter. Quarry LP now owns 3,275 shares of the shipping company's stock valued at $51,000 after acquiring an additional 2,003 shares in the last quarter. Blue Trust Inc. boosted its holdings in Costamare by 43.5% in the fourth 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 period. US Bancorp DE grew its position in shares of Costamare by 1,385.2% during the third quarter. US Bancorp DE now owns 11,837 shares of the shipping company's stock worth $186,000 after buying an additional 11,040 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Costamare during the 3rd quarter worth $195,000. Institutional investors and hedge funds own 58.08% of the company's stock.
Costamare Stock Performance
Costamare stock traded up $0.13 during mid-day trading on Friday, reaching $10.37. 345,804 shares of the company were exchanged, compared to its average volume of 437,828. The firm has a market cap of $1.24 billion, a PE ratio of 4.25 and a beta of 1.31. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. The firm's 50-day simple moving average is $11.55 and its two-hundred day simple moving average is $13.06. Costamare Inc. has a twelve month low of $9.66 and a twelve month high of $17.58.
Costamare (NYSE:CMRE - Get Free Report) last posted 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 net margin of 15.14% and a return on equity of 14.03%. Equities analysts predict that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.
Costamare Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare's payout ratio is 18.85%.
Wall Street Analyst Weigh In
CMRE has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $13.00 price target on shares of Costamare in a report on Wednesday, February 5th. StockNews.com raised Costamare from a "hold" rating to a "buy" rating in a research report on Thursday.
Read Our Latest Stock Analysis on Costamare
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