Los Angeles Capital Management LLC Reduces Holdings in Costamare Inc. (NYSE:CMRE)

Los Angeles Capital Management LLC decreased its position in shares of Costamare Inc. (NYSE:CMRE) by 73.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 42,844 shares of the shipping company’s stock after selling 117,735 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Costamare were worth $551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund grew its stake in Costamare by 4.2% in the 4th quarter. New York State Common Retirement Fund now owns 223,565 shares of the shipping company’s stock valued at $2,873,000 after buying an additional 9,100 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Costamare by 10.9% in the fourth quarter. Principal Financial Group Inc. now owns 65,638 shares of the shipping company’s stock worth $843,000 after acquiring an additional 6,461 shares during the period. Blue Trust Inc. grew its position in shares of Costamare by 43.5% in the fourth quarter. Blue Trust Inc. now owns 10,606 shares of the shipping company’s stock valued at $136,000 after purchasing an additional 3,213 shares in the last quarter. Empowered Funds LLC grew its position in shares of Costamare by 5.1% in the fourth quarter. Empowered Funds LLC now owns 602,062 shares of the shipping company’s stock valued at $7,736,000 after purchasing an additional 29,354 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Costamare by 87.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company’s stock valued at $7,071,000 after purchasing an additional 257,422 shares during the period. 58.08% of the stock is currently owned by institutional investors.

Costamare Trading Down 2.2 %

Shares of CMRE stock opened at $9.96 on Tuesday. The company has a market capitalization of $1.19 billion, a PE ratio of 4.08 and a beta of 1.31. Costamare Inc. has a 52-week low of $9.94 and a 52-week high of $17.58. The business’s fifty day moving average is $11.67 and its 200 day moving average is $13.11. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. Costamare had a return on equity of 14.03% and a net margin of 15.14%. On average, equities research analysts anticipate that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Tuesday, January 21st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s dividend payout ratio is currently 18.85%.

Wall Street Analysts Forecast Growth

CMRE has been the subject of several analyst reports. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Jefferies Financial Group restated a “hold” rating and issued a $13.00 price objective on shares of Costamare in a research report on Wednesday, February 5th.

About Costamare