Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Stock Position in Costamare Inc. (NYSE:CMRE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Costamare Inc. (NYSE:CMRE) by 100.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 39,505 shares of the shipping company’s stock after acquiring an additional 19,769 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Costamare were worth $508,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Intech Investment Management LLC bought a new position in Costamare during the third quarter valued at approximately $195,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Costamare by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 433,995 shares of the shipping company’s stock valued at $6,822,000 after purchasing an additional 15,983 shares in the last quarter. FMR LLC grew its holdings in shares of Costamare by 261.9% during the 3rd quarter. FMR LLC now owns 24,763 shares of the shipping company’s stock valued at $389,000 after purchasing an additional 17,921 shares during the last quarter. BNP Paribas Financial Markets raised its position in Costamare by 141.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 62,773 shares of the shipping company’s stock worth $987,000 after purchasing an additional 36,822 shares during the period. Finally, Freedom Investment Management Inc. purchased a new position in shares of Costamare in the third quarter worth about $547,000. 58.08% of the stock is owned by hedge funds and other institutional investors.

Costamare Stock Performance

Costamare stock opened at $10.02 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. The firm has a market cap of $1.20 billion, a P/E ratio of 4.11 and a beta of 1.28. Costamare Inc. has a 1-year low of $9.66 and a 1-year high of $17.58. The firm has a 50-day moving average of $10.76 and a 200-day moving average of $12.68.

Costamare (NYSE:CMRE) last released its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Tuesday, January 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s dividend payout ratio (DPR) is currently 18.85%.

Wall Street Analysts Forecast Growth

CMRE has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 price target on shares of Costamare in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Costamare Company Profile