Costamare Inc. (NYSE:CMRE) Shares Bought by Empowered Funds LLC

Empowered Funds LLC grew its holdings in shares of Costamare Inc. (NYSE:CMRE) by 5.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 572,708 shares of the shipping company’s stock after purchasing an additional 29,078 shares during the quarter. Empowered Funds LLC’s holdings in Costamare were worth $9,003,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CMRE. Oppenheimer & Co. Inc. purchased a new stake in shares of Costamare during the third quarter valued at $886,000. Los Angeles Capital Management LLC increased its holdings in shares of Costamare by 9.7% in 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 purchasing an additional 14,198 shares during the period. Lifestyle Asset Management Inc. purchased a new position in shares of Costamare in the third quarter worth about $332,000. Principal Financial Group Inc. lifted its holdings in shares of Costamare by 34.2% during the third quarter. Principal Financial Group Inc. now owns 59,177 shares of the shipping company’s stock worth $930,000 after purchasing an additional 15,092 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Costamare by 37.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 292,879 shares of the shipping company’s stock valued at $4,604,000 after buying an additional 79,381 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Trading Down 1.1 %

Shares of Costamare stock opened at $14.39 on Friday. 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 twelve month low of $9.16 and a twelve month high of $17.58. The firm has a market capitalization of $1.69 billion, a PE ratio of 4.78 and a beta of 1.37. The firm’s 50-day moving average price is $14.26 and its 200 day moving average price is $14.53.

Costamare (NYSE:CMRE) last released its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping 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 net margin of 19.11% and a return on equity of 14.28%. During the same quarter in the prior year, the firm earned $0.46 earnings per share. On average, sell-side analysts predict that Costamare Inc. will post 2.83 EPS for the current fiscal year.

Costamare Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Monday, October 21st. Costamare’s dividend payout ratio is currently 15.28%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CMRE. Jefferies Financial Group reissued a “hold” rating and set a $13.00 price target on shares of Costamare in a research report on Friday, November 1st. Stifel Nicolaus boosted their target price 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 downgraded Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd.

Costamare Profile