Costamare Inc. $CMRE Stock Position Decreased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its stake in Costamare Inc. by 32.0% during the 1st quarter, owning 1,859,143 shares valued at $18.27 million post-sale.
• Other institutional players, such as Quarry LP and New Age Alpha Advisors LLC, substantially increased their positions in Costamare by 21,575.0% and 89.4%, respectively, reflecting diverse investment strategies.
• Costamare's recent performance includes a quarterly earnings beat, reporting $0.77 EPS against a consensus estimate of $0.48, alongside a dividend yield of 3.8%.

Acadian Asset Management LLC lowered its position in Costamare Inc. (NYSE:CMRE - Free Report) by 32.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,859,143 shares of the shipping company's stock after selling 873,860 shares during the quarter. Acadian Asset Management LLC owned about 1.55% of Costamare worth $18,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Costamare by 21.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,099 shares of the shipping company's stock valued at $220,000 after acquiring an additional 3,014 shares in the last quarter. Ameriprise Financial Inc. grew its position in Costamare by 0.6% in the 4th quarter. Ameriprise Financial Inc. now owns 780,662 shares of the shipping company's stock valued at $10,032,000 after buying an additional 4,791 shares in the last quarter. Bank of America Corp DE increased its stake in Costamare by 14.6% during the 4th quarter. Bank of America Corp DE now owns 132,900 shares of the shipping company's stock valued at $1,708,000 after buying an additional 16,889 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in Costamare during the 4th quarter valued at about $633,000. Finally, Deutsche Bank AG raised its position in shares of Costamare by 50.2% during the 4th quarter. Deutsche Bank AG now owns 36,390 shares of the shipping company's stock worth $468,000 after buying an additional 12,160 shares in the last quarter. Institutional investors own 58.08% of the company's stock.

Costamare Price Performance

Shares of Costamare stock traded up $0.27 on Wednesday, hitting $12.60. The company had a trading volume of 87,209 shares, compared to its average volume of 502,900. Costamare Inc. has a 52 week low of $6.63 and a 52 week high of $15.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.68 and a quick ratio of 1.64. The company has a market cap of $1.52 billion, a PE ratio of 5.34 and a beta of 1.29. The business has a 50-day simple moving average of $10.82 and a 200-day simple moving average of $9.77.

Costamare (NYSE:CMRE - Get Free Report) last announced its earnings results on Thursday, July 31st. The shipping company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.48 by $0.29. Costamare had a return on equity of 13.67% and a net margin of 17.10%.The firm had revenue of $211.20 million for the quarter, compared to analysts' expectations of $209.72 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. Research analysts expect that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 21st. This represents a $0.46 annualized dividend and a dividend yield of 3.7%. Costamare's dividend payout ratio (DPR) is 19.49%.

Costamare Profile