Federated Hermes Inc. Increases Stake in Costamare Inc. (NYSE:CMRE)

Federated Hermes Inc. lifted its position in shares of Costamare Inc. (NYSE:CMRE - Free Report) by 25,731.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 401,414 shares of the shipping company's stock after acquiring an additional 399,860 shares during the quarter. Federated Hermes Inc. owned 0.34% of Costamare worth $6,595,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CMRE. American Century Companies Inc. grew its holdings in Costamare by 62.9% during the second quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company's stock worth $10,216,000 after acquiring an additional 239,970 shares during the period. Acadian Asset Management LLC boosted its position in shares of Costamare by 1,322.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company's stock worth $24,119,000 after purchasing an additional 1,366,344 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Costamare by 9.9% during the 2nd quarter. Principal Financial Group Inc. now owns 44,085 shares of the shipping company's stock worth $724,000 after purchasing an additional 3,986 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Costamare by 42.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 57,777 shares of the shipping company's stock valued at $949,000 after purchasing an additional 17,350 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in Costamare by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 74,571 shares of the shipping company's stock valued at $1,225,000 after buying an additional 990 shares in the last quarter. 58.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMRE has been the subject of a number of research analyst reports. StockNews.com upgraded Costamare from a "hold" rating to a "buy" rating in a research report on Friday, August 23rd. Stifel Nicolaus upped 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. Finally, Jefferies Financial Group increased their price target on shares of Costamare from $12.00 to $13.00 and gave the company a "hold" rating in a research report on Wednesday, July 31st.

Costamare Price Performance

Shares of CMRE traded up $0.13 during trading hours on Wednesday, reaching $13.91. 286,886 shares of the company traded hands, compared to its average volume of 522,247. The stock has a market capitalization of $1.64 billion, a PE ratio of 5.42 and a beta of 1.37. The stock has a fifty day simple moving average of $14.09 and a 200 day simple moving average of $13.62. Costamare Inc. has a fifty-two week low of $8.54 and a fifty-two week high of $17.58. 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 (NYSE:CMRE - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. The company had revenue of $515.42 million for the quarter, compared to analysts' expectations of $380.41 million. Costamare had a net margin of 19.63% and a return on equity of 13.63%. As a group, research analysts predict that Costamare Inc. will post 3.05 EPS for the current fiscal year.

Costamare Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Friday, July 19th. Costamare's dividend payout ratio is presently 17.83%.

Costamare Company Profile