Allspring Global Investments Holdings LLC Trims Stock Position in Costamare Inc. (NYSE:CMRE)

Allspring Global Investments Holdings LLC decreased its position in Costamare Inc. (NYSE:CMRE - Free Report) by 73.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,204 shares of the shipping company's stock after selling 42,573 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Costamare were worth $239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CMRE. Blue Trust Inc. increased its stake in shares of Costamare by 2,540.4% during the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company's stock valued at $121,000 after purchasing an additional 7,113 shares in the last quarter. nVerses Capital LLC increased its position in Costamare by 1,700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company's stock valued at $28,000 after buying an additional 1,700 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Costamare during the second quarter valued at $185,000. B. Riley Wealth Advisors Inc. boosted its holdings in Costamare by 39.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 16,188 shares of the shipping company's stock worth $266,000 after acquiring an additional 4,544 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Costamare by 5.2% during the second quarter. Creative Planning now owns 55,067 shares of the shipping company's stock valued at $905,000 after acquiring an additional 2,703 shares in the last quarter. Hedge funds and other institutional investors own 58.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stifel Nicolaus increased their price objective 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. StockNews.com cut shares of Costamare from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group restated a "hold" rating and issued a $13.00 price objective on shares of Costamare in a report on Friday.

Costamare Stock Performance

CMRE traded up $0.14 during midday trading on Monday, hitting $13.87. 289,350 shares of the company traded hands, compared to its average volume of 497,380. The company's 50-day moving average is $14.16 and its 200 day moving average is $14.37. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $1.63 billion, a PE ratio of 4.90 and a beta of 1.37. Costamare Inc. has a 52 week low of $8.61 and a 52 week high of $17.58.

Costamare Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.46 dividend on an annualized basis and a yield of 3.32%. Costamare's dividend payout ratio (DPR) is 16.25%.

Costamare Company Profile