Sei Investments Co. Purchases New Holdings in Costamare Inc. (NYSE:CMRE)

Sei Investments Co. acquired a new position in Costamare Inc. (NYSE:CMRE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 40,997 shares of the shipping company’s stock, valued at approximately $674,000.

Other hedge funds also recently modified their holdings of the company. Bridgeway Capital Management LLC increased its stake 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 period. Acadian Asset Management LLC grew 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 during the period. American Century Companies Inc. grew its stake in shares of Costamare by 62.9% in the 2nd quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company’s stock valued at $10,216,000 after purchasing an additional 239,970 shares during the period. Empowered Funds LLC raised its holdings in shares of Costamare by 8.2% in the 1st 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 in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of 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 buying an additional 399,860 shares during the period. Institutional investors own 58.08% of the company’s stock.

Costamare Price Performance

Shares of CMRE stock opened at $14.56 on Wednesday. Costamare Inc. has a 52 week low of $8.54 and a 52 week high of $17.58. The stock has a market capitalization of $1.71 billion, a PE ratio of 5.64 and a beta of 1.37. 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 stock’s fifty day moving average is $14.16 and its 200-day moving average is $14.03.

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

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Monday, October 21st. Costamare’s dividend payout ratio is currently 17.83%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stifel Nicolaus upped their price target on Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Jefferies Financial Group increased their target price on shares of Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd.

Costamare Company Profile