Sei Investments Co. Takes Position in Costamare Inc. (NYSE:CMRE)

Sei Investments Co. acquired a new stake in shares of Costamare Inc. (NYSE:CMRE - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 40,997 shares of the shipping company's stock, valued at approximately $674,000.

Several other large investors have also recently modified their holdings of the stock. Quarry LP increased its position in shares of Costamare by 48.5% in the fourth quarter. Quarry LP now owns 4,216 shares of the shipping company's stock valued at $44,000 after acquiring an additional 1,376 shares during the period. CWM LLC raised its position in Costamare by 53.6% during the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company's stock valued at $71,000 after purchasing an additional 1,502 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in Costamare during the 2nd quarter valued at approximately $80,000. B. Riley Wealth Advisors Inc. purchased a new stake in Costamare in the 1st quarter worth approximately $132,000. Finally, Ballentine Partners LLC grew its position in shares of Costamare by 23.5% in the 1st quarter. Ballentine Partners LLC now owns 13,567 shares of the shipping company's stock worth $154,000 after buying an additional 2,585 shares during the last quarter. Hedge funds and other institutional investors own 58.08% of the company's stock.

Analyst Upgrades and Downgrades

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

Costamare Trading Down 1.7 %

CMRE stock traded down $0.25 during mid-day trading on Wednesday, reaching $14.31. 495,589 shares of the stock traded hands, compared to its average volume of 514,678. The business has a 50-day moving average price of $14.16 and a two-hundred day moving average price of $14.03. The stock has a market capitalization of $1.68 billion, a PE ratio of 5.56 and a beta of 1.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.54 and a current ratio of 1.61. Costamare Inc. has a one year low of $8.54 and a one year high of $17.58.

Costamare (NYSE:CMRE - Get Free Report) last released its quarterly earnings data 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 company had revenue of $515.42 million for the quarter, compared to the consensus estimate of $380.41 million. Equities research analysts expect that Costamare Inc. will post 3.05 EPS for the current year.

Costamare Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.46 annualized dividend and a dividend yield of 3.21%. Costamare's dividend payout ratio (DPR) is currently 17.83%.

Costamare Company Profile