Charles Schwab Investment Management Inc. Decreases Stock Position in Costamare Inc. $CMRE

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in Costamare Inc. by 21.3%, selling 79,037 shares during the first quarter, bringing its ownership to approximately 292,116 shares valued at $2.87 million.
• Costamare recently reported earnings of $0.77 per share, exceeding analysts' expectations of $0.48, with revenue of $211.20 million for the quarter, compared to expected $209.72 million.
• The company has announced a quarterly dividend of $0.115 per share, representing a dividend yield of 4.0% and a payout ratio of 19.49%.

Charles Schwab Investment Management Inc. lowered its position in Costamare Inc. (NYSE:CMRE - Free Report) by 21.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 292,116 shares of the shipping company's stock after selling 79,037 shares during the period. Charles Schwab Investment Management Inc. owned 0.24% of Costamare worth $2,874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CMRE. Aquatic Capital Management LLC bought a new position in Costamare in the fourth quarter worth approximately $45,000. New Age Alpha Advisors LLC boosted its holdings in 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 acquiring an additional 3,489 shares in the last quarter. Man Group plc bought a new position in Costamare in the fourth quarter worth approximately $133,000. Mariner LLC bought a new position in Costamare in the fourth quarter worth approximately $134,000. Finally, Graham Capital Management L.P. bought a new position in Costamare in the fourth quarter worth approximately $145,000. Institutional investors own 58.08% of the company's stock.

Costamare Stock Performance

Shares of CMRE traded up $0.27 on Wednesday, reaching $11.82. 123,125 shares of the company's stock traded hands, compared to its average volume of 509,476. The company has a current ratio of 1.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.42 billion, a PE ratio of 5.01 and a beta of 1.29. The stock's 50 day simple moving average is $10.23 and its two-hundred day simple moving average is $9.65. Costamare Inc. has a 52-week low of $6.63 and a 52-week high of $15.96.

Costamare (NYSE:CMRE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The shipping company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.29. The company had revenue of $211.20 million during the quarter, compared to the consensus estimate of $209.72 million. Costamare had a return on equity of 13.67% and a net margin of 17.10%.During the same period last year, the business posted $0.76 earnings per share. On average, analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 21st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, July 21st. Costamare's dividend payout ratio (DPR) is presently 19.49%.

Wall Street Analyst Weigh In

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

Costamare Company Profile