Costamare Inc. (NYSE:CMRE) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its position in Costamare Inc. (NYSE:CMRE) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,835 shares of the shipping company’s stock after selling 5,119 shares during the period. Rhumbline Advisers owned about 0.07% of Costamare worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Costamare in the 1st quarter valued at $1,172,000. Russell Investments Group Ltd. lifted its stake in shares of Costamare by 56,543.3% in the 1st quarter. Russell Investments Group Ltd. now owns 143,874 shares of the shipping company’s stock valued at $1,633,000 after purchasing an additional 143,620 shares during the period. SG Americas Securities LLC acquired a new position in shares of Costamare in the 2nd quarter valued at $1,999,000. Bridgeway Capital Management LLC lifted its stake in shares of Costamare by 16.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,313,829 shares of the shipping company’s stock valued at $13,677,000 after purchasing an additional 183,193 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Costamare by 12.7% in the 4th quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company’s stock valued at $138,000 after purchasing an additional 1,498 shares during the period. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CMRE shares. Jefferies Financial Group boosted their target price on shares of Costamare from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus upped their price objective on shares of Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th.

Costamare Stock Performance

NYSE:CMRE opened at $14.43 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.54 and a current ratio of 1.61. The company has a fifty day moving average of $14.02 and a two-hundred day moving average of $13.67. The stock has a market capitalization of $1.70 billion, a PE ratio of 5.59 and a beta of 1.37. Costamare Inc. has a fifty-two week low of $8.54 and a fifty-two week high of $17.58.

Costamare (NYSE:CMRE) last posted its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Costamare had a net margin of 19.63% and a return on equity of 13.63%. The company had revenue of $515.42 million during the quarter, compared to analysts’ expectations of $380.41 million. As a group, research analysts forecast that Costamare Inc. will post 3.05 earnings per share for the current fiscal 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 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 of this dividend was Friday, July 19th. Costamare’s payout ratio is 17.83%.

Costamare Company Profile