Price T Rowe Associates Inc. MD increased its holdings in Costamare Inc. (NYSE:CMRE – Free Report) by 19.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,681 shares of the shipping company’s stock after acquiring an additional 2,223 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Costamare were worth $156,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Costamare in the 1st quarter valued at about $1,172,000. Russell Investments Group Ltd. increased its holdings 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 acquiring an additional 143,620 shares in the last quarter. Bridgeway Capital Management LLC increased 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 acquiring an additional 183,193 shares in the last quarter. Victory Capital Management Inc. increased its holdings 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 worth $138,000 after acquiring an additional 1,498 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Costamare by 48.5% in the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after acquiring an additional 1,376 shares in the last quarter. 58.08% of the shares are currently owned by hedge funds and other institutional investors.
Changes in analyst ratings
Several brokerage firms have recently commented on CMRE. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus raised their price target on Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24. Finally, Jefferies Financial Group raised their price target on Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31.
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Costamare trading down 1.3%
CMRE opened at $13.85 on Friday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 5.37 and a beta of 1.38. Costamare Inc. has a 52-week low of $8.54 and a 52-week high of $17.58. The company’s 50-day moving average is $15.17 and its 200-day moving average is $13.21. The company has a quick ratio of 1.81, a current ratio of 1.61 and a debt-to-equity ratio of 0.77.
Costamare announces dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th were paid a dividend of $0.115 per share. This represents an annualized dividend of $0.46 and a yield of 3.32%. The ex-dividend date of this dividend was Friday, July 19th. Costamare’s Dividend Payout Ratio (DPR) is 17.83%.
Costamare company profile
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