Intech Investment Management LLC Acquires New Position in Costamare Inc. (NYSE:CMRE)

Intech Investment Management LLC bought a new position in Costamare Inc. (NYSE:CMRE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,405 shares of the shipping company’s stock, valued at approximately $195,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gladius Capital Management LP bought a new stake in shares of Costamare in the 3rd quarter worth approximately $35,000. Empowered Funds LLC lifted its stake in Costamare by 5.3% in the third quarter. Empowered Funds LLC now owns 572,708 shares of the shipping company’s stock worth $9,003,000 after purchasing an additional 29,078 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Costamare in the third quarter worth $886,000. Los Angeles Capital Management LLC boosted its position in Costamare by 9.7% during the third quarter. Los Angeles Capital Management LLC now owns 160,579 shares of the shipping company’s stock valued at $2,524,000 after buying an additional 14,198 shares during the period. Finally, Lifestyle Asset Management Inc. bought a new position in shares of Costamare during the third quarter valued at about $332,000. 58.08% of the stock is currently owned by institutional investors.

Costamare Price Performance

CMRE stock opened at $13.22 on Friday. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 4.39 and a beta of 1.34. The firm’s 50-day moving average price is $14.09 and its two-hundred day moving average price is $14.57. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. Costamare Inc. has a 12-month low of $9.16 and a 12-month high of $17.58.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $544.64 million during the quarter, compared to analyst estimates of $434.13 million. Costamare had a return on equity of 14.28% and a net margin of 19.11%. During the same quarter in the prior year, the company posted $0.46 EPS. As a group, equities analysts predict that Costamare Inc. will post 2.83 earnings per share for the current year.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.48%. The ex-dividend date was Monday, October 21st. Costamare’s dividend payout ratio (DPR) is currently 15.28%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CMRE. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 price objective on shares of Costamare in a research report on Friday, November 1st.

About Costamare