Costamare Inc. (NYSE:CMRE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in Costamare Inc. (NYSE:CMRE - Free Report) by 31.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 161,985 shares of the shipping company's stock after selling 73,410 shares during the period. Bank of New York Mellon Corp owned 0.14% of Costamare worth $2,661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its holdings in shares of Costamare by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 74,571 shares of the shipping company's stock worth $1,225,000 after acquiring an additional 990 shares during the period. Veracity Capital LLC purchased a new stake in shares of Costamare during the 2nd quarter valued at $275,000. Unison Advisors LLC increased its holdings in shares of Costamare by 1.0% during the 2nd quarter. Unison Advisors LLC now owns 82,707 shares of the shipping company's stock worth $1,359,000 after buying an additional 854 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Costamare during the 2nd quarter worth $1,999,000. Finally, CWM LLC raised its position in shares of Costamare by 53.6% in the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company's stock worth $71,000 after buying an additional 1,502 shares during the period. Hedge funds and other institutional investors own 58.08% of the company's stock.

Costamare Stock Up 0.9 %

Shares of NYSE CMRE traded up $0.12 on Monday, hitting $13.73. The company had a trading volume of 237,116 shares, compared to its average volume of 525,776. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 0.77. Costamare Inc. has a 12-month low of $8.54 and a 12-month high of $17.58. The firm has a market capitalization of $1.61 billion, a P/E ratio of 5.32 and a beta of 1.37. The business has a 50 day moving average of $14.12 and a two-hundred day moving average of $13.61.

Costamare (NYSE:CMRE - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The shipping company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. Costamare had a return on equity of 13.63% and a net margin of 19.63%. The firm had revenue of $515.42 million for the quarter, compared to analyst estimates of $380.41 million. As a group, equities research analysts forecast that Costamare Inc. will post 3.05 earnings per share for the current fiscal year.

Costamare Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors 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 yield of 3.35%. The ex-dividend date was Friday, July 19th. Costamare's payout ratio is 17.83%.

Analyst Ratings Changes

Several equities research analysts have commented on CMRE shares. StockNews.com upgraded Costamare from a "hold" rating to a "buy" rating in a research note on Friday, August 23rd. Jefferies Financial Group increased their target price on shares of Costamare from $12.00 to $13.00 and gave the stock a "hold" rating in a research 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 research report on Wednesday, July 24th.

Costamare Profile