American Century Companies Inc. Has $11.77 Million Holdings in Costamare Inc. $CMRE

Key Points

• American Century Companies Inc. has raised its holdings in Costamare Inc. by 11.1% during the first quarter, now owning approximately 1.00% of the company's shares, valued at about $11.77 million.
• Costamare experienced a strong quarterly performance with an earnings per share (EPS) of $0.77, exceeding the consensus estimate of $0.48, and reported revenues of $211.20 million.
• The company has declared a quarterly dividend of $0.115, resulting in an annualized dividend yield of 3.9% with a payout ratio of 19.49%.

American Century Companies Inc. grew its stake in Costamare Inc. (NYSE:CMRE - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,196,506 shares of the shipping company's stock after buying an additional 119,106 shares during the period. American Century Companies Inc. owned approximately 1.00% of Costamare worth $11,774,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CMRE. Aquatic Capital Management LLC bought a new position in shares of Costamare in the fourth quarter worth about $45,000. New Age Alpha Advisors LLC increased its stake in shares of Costamare by 89.4% in the first quarter. New Age Alpha Advisors LLC now owns 7,393 shares of the shipping company's stock worth $73,000 after purchasing an additional 3,489 shares during the period. Legal & General Group Plc increased its stake in shares of Costamare by 27.1% in the fourth quarter. Legal & General Group Plc now owns 8,909 shares of the shipping company's stock worth $114,000 after purchasing an additional 1,900 shares during the period. Man Group plc bought a new position in shares of Costamare in the fourth quarter worth about $133,000. Finally, Mariner LLC bought a new position in shares of Costamare in the fourth quarter worth about $134,000. 58.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on Costamare in a research note on Thursday, May 15th. They issued a "hold" rating on the stock. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $13.00.

Costamare Price Performance

Shares of CMRE stock traded down $0.13 during trading hours on Friday, hitting $11.45. The company had a trading volume of 367,088 shares, compared to its average volume of 512,009. Costamare Inc. has a 12 month low of $6.63 and a 12 month high of $15.96. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 4.85 and a beta of 1.28. The firm's fifty day moving average is $10.09 and its 200 day moving average is $9.63. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.64 and a current ratio of 1.68.

Costamare (NYSE:CMRE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, beating 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 company had revenue of $211.20 million for the quarter, compared to analyst estimates of $209.72 million. During the same period in the prior year, the company posted $0.76 EPS. On average, sell-side analysts predict that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, July 21st. Costamare's payout ratio is presently 19.49%.

Costamare Company Profile