Acadian Asset Management LLC Grows Stock Position in Costamare Inc. (NYSE:CMRE)

Acadian Asset Management LLC increased its position in Costamare Inc. (NYSE:CMRE - Free Report) by 1,322.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,469,697 shares of the shipping company's stock after acquiring an additional 1,366,344 shares during the quarter. Acadian Asset Management LLC owned about 1.25% of Costamare worth $24,119,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Costamare by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 470,687 shares of the shipping company's stock worth $4,900,000 after acquiring an additional 14,126 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Costamare by 145.1% during the fourth quarter. BNP Paribas Financial Markets now owns 81,793 shares of the shipping company's stock worth $851,000 after acquiring an additional 48,419 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Costamare by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,069,284 shares of the shipping company's stock worth $73,591,000 after acquiring an additional 107,756 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Costamare during the fourth quarter worth approximately $450,000. 58.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CMRE has been the topic of several research reports. StockNews.com raised shares of Costamare from a "hold" rating to a "buy" rating in a research note on Friday, August 23rd. Jefferies Financial Group lifted their price target on shares of Costamare from $12.00 to $13.00 and gave the company a "hold" rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus lifted their price target on shares of Costamare from $12.00 to $14.00 and gave the company a "hold" rating in a report on Wednesday, July 24th.

Costamare Trading Down 0.6 %

NYSE:CMRE traded down $0.08 during trading hours on Monday, hitting $13.08. The company had a trading volume of 245,993 shares, compared to its average volume of 533,460. The company has a market capitalization of $1.54 billion, a PE ratio of 5.10 and a beta of 1.37. The stock has a 50-day moving average price of $14.49 and a 200 day moving average price of $13.53. Costamare Inc. has a 52 week low of $8.54 and a 52 week 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.

Costamare (NYSE:CMRE - Get Free Report) last announced 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 firm had revenue of $515.42 million for the quarter, compared to analysts' expectations of $380.41 million. On average, equities research analysts predict that Costamare Inc. will post 3.05 EPS for the current fiscal year.

Costamare Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, July 19th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, July 19th. Costamare's dividend payout ratio (DPR) is presently 17.83%.

Costamare Company Profile