Oppenheimer & Co. Inc. Invests $886,000 in Costamare Inc. (NYSE:CMRE)

Oppenheimer & Co. Inc. acquired a new position in shares of Costamare Inc. (NYSE:CMRE - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 56,348 shares of the shipping company's stock, valued at approximately $886,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMRE. Bridgeway Capital Management LLC boosted its holdings in Costamare by 20.6% in the first quarter. Bridgeway Capital Management LLC now owns 1,583,997 shares of the shipping company's stock valued at $17,978,000 after acquiring an additional 270,168 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Costamare by 1,322.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company's stock valued at $24,119,000 after purchasing an additional 1,366,344 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Costamare by 62.9% during the 2nd quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company's stock worth $10,216,000 after purchasing an additional 239,970 shares during the period. Federated Hermes Inc. increased its position in Costamare by 25,731.0% during the 2nd quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company's stock worth $6,595,000 after purchasing an additional 399,860 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Costamare by 985.5% in the second quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company's stock valued at $5,875,000 after buying an additional 324,618 shares during the period. Hedge funds and other institutional investors own 58.08% of the company's stock.

Costamare Stock Performance

Shares of NYSE CMRE traded down $0.06 during midday trading on Wednesday, hitting $14.44. The company's stock had a trading volume of 252,795 shares, compared to its average volume of 485,844. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. Costamare Inc. has a 1-year low of $9.16 and a 1-year high of $17.58. The firm's fifty day moving average price is $14.35 and its 200-day moving average price is $14.59. The firm has a market cap of $1.70 billion, a P/E ratio of 4.80 and a beta of 1.37.

Costamare (NYSE:CMRE - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The firm had revenue of $544.64 million during the quarter, compared to the consensus estimate of $434.13 million. During the same period in the prior year, the business earned $0.46 EPS. On average, sell-side analysts forecast that Costamare Inc. will post 2.83 EPS for the current fiscal year.

Costamare Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Monday, October 21st. Costamare's dividend payout ratio (DPR) is 15.28%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Costamare from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Stifel Nicolaus increased their price target on 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 restated a "hold" rating and set a $13.00 price objective on shares of Costamare in a research note on Friday, November 1st.

Costamare Profile