US Bancorp DE Continues to Hold Stake in Costamare Inc. (CMRE)
US Bancorp DE maintained its position in Costamare Inc. (NYSE:CMRE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,875 shares of the shipping company’s stock at the end of the second quarter. US Bancorp DE’s holdings in Costamare were worth $109,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global X Management Co. LLC bought a new position in shares of Costamare during the first quarter valued at $9,482,000. Signia Capital Management LLC bought a new position in shares of Costamare during the first quarter valued at $3,421,000. Acadian Asset Management LLC increased its position in shares of Costamare by 359.7% in the first quarter. Acadian Asset Management LLC now owns 304,201 shares of the shipping company’s stock valued at $2,026,000 after buying an additional 238,029 shares during the period. Morgan Stanley increased its position in shares of Costamare by 13.8% in the first quarter. Morgan Stanley now owns 1,956,634 shares of the shipping company’s stock valued at $13,032,000 after buying an additional 236,786 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Costamare by 111.7% in the first quarter. Geode Capital Management LLC now owns 401,120 shares of the shipping company’s stock valued at $2,670,000 after buying an additional 211,686 shares during the period. 27.23% of the stock is currently owned by institutional investors.
Costamare Inc. (NYSE:CMRE) traded up 0.79% during mid-day trading on Thursday, hitting $6.35. The company had a trading volume of 222,703 shares. The stock’s 50 day moving average price is $6.62 and its 200 day moving average price is $6.69. Costamare Inc. has a 52-week low of $5.07 and a 52-week high of $9.54. The firm has a market cap of $673.04 million, a P/E ratio of 15.84 and a beta of 2.21.
Costamare (NYSE:CMRE) last released its earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The company had revenue of $104.10 million during the quarter, compared to analyst estimates of $104.23 million. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, equities research analysts predict that Costamare Inc. will post $0.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 24th were issued a $0.10 dividend. The ex-dividend date was Thursday, July 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.35%. Costamare’s payout ratio is currently 105.27%.
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Several brokerages have weighed in on CMRE. Zacks Investment Research upgraded Costamare from a “sell” rating to a “hold” rating in a research note on Monday. ValuEngine upgraded Costamare from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. BidaskClub downgraded Costamare from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 target price on shares of Costamare in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.50.
Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.
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