Federated Hermes Inc. Acquires 399,860 Shares of Costamare Inc. (NYSE:CMRE)

Federated Hermes Inc. increased its position in Costamare Inc. (NYSE:CMRE) by 25,731.0% during the 2nd 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 buying an additional 399,860 shares during the quarter. Federated Hermes Inc. owned 0.34% of Costamare worth $6,595,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Costamare by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,069,284 shares of the shipping company’s stock worth $73,591,000 after buying an additional 107,756 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of Costamare by 20.6% in the first quarter. Bridgeway Capital Management LLC now owns 1,583,997 shares of the shipping company’s stock worth $17,978,000 after buying an additional 270,168 shares during the period. Acadian Asset Management LLC increased its stake in shares of Costamare by 1,322.0% in the second quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock worth $24,119,000 after buying an additional 1,366,344 shares during the period. American Century Companies Inc. increased its stake in shares of Costamare by 62.9% in the second quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company’s stock worth $10,216,000 after buying an additional 239,970 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Costamare by 8.2% in the first quarter. Empowered Funds LLC now owns 504,570 shares of the shipping company’s stock worth $5,727,000 after buying an additional 38,168 shares during the period. 58.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CMRE shares. Jefferies Financial Group lifted their target price on shares of Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Stifel Nicolaus boosted 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. Finally, StockNews.com raised shares of Costamare from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd.

Costamare Stock Up 0.4 %

Shares of Costamare stock opened at $13.78 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $14.12 and its two-hundred day simple moving average is $13.61. The company has a market cap of $1.62 billion, a P/E ratio of 5.34 and a beta of 1.37. Costamare Inc. has a 12-month low of $8.54 and a 12-month high of $17.58.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $515.42 million for the quarter, compared to the consensus estimate of $380.41 million. Costamare had a net margin of 19.63% and a return on equity of 13.63%. Research analysts anticipate that Costamare Inc. will post 3.05 EPS for the current year.

Costamare Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, July 19th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, July 19th. Costamare’s dividend payout ratio is presently 17.83%.

Costamare Company Profile