Connor Clark & Lunn Investment Management Ltd. Has $1.93 Million Position in Costamare Inc. (NYSE:CMRE)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Costamare Inc. by 12.0%, now owning approximately 195,716 shares valued at $1.93 million.
• Several hedge funds increased their stakes in Costamare during the past quarters, with notable increases from JPMorgan Chase & Co. (up 33.3%) and Robeco Institutional Asset Management B.V. (up 10.5%).
• Costamare recently announced a quarterly dividend of $0.115 per share, representing a 4.1% dividend yield on an annualized basis.

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Costamare Inc. (NYSE:CMRE - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 195,716 shares of the shipping company's stock after selling 26,663 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of Costamare worth $1,926,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CMRE. Bridgeway Capital Management LLC lifted its stake in Costamare by 1.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,546,489 shares of the shipping company's stock valued at $19,872,000 after acquiring an additional 29,354 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Costamare by 0.6% during the 4th quarter. Ameriprise Financial Inc. now owns 780,662 shares of the shipping company's stock valued at $10,032,000 after acquiring an additional 4,791 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Costamare by 10.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 607,944 shares of the shipping company's stock valued at $5,982,000 after acquiring an additional 57,643 shares in the last quarter. Denali Advisors LLC lifted its stake in Costamare by 9.2% during the 1st quarter. Denali Advisors LLC now owns 555,073 shares of the shipping company's stock valued at $5,462,000 after acquiring an additional 46,878 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Costamare by 33.3% during the 4th quarter. JPMorgan Chase & Co. now owns 452,504 shares of the shipping company's stock valued at $5,815,000 after acquiring an additional 112,938 shares in the last quarter. Institutional investors and hedge funds own 58.08% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on Costamare in a research note on Thursday, May 15th. They set a "hold" rating on the stock.

Costamare Trading Down 0.7%

NYSE CMRE opened at $11.12 on Friday. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 4.71 and a beta of 1.28. Costamare Inc. has a one year low of $6.63 and a one year 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 business's fifty day moving average is $9.68 and its 200-day moving average is $9.62.

Costamare (NYSE:CMRE - Get Free Report) last released its earnings results on Thursday, July 31st. The shipping company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.29. The company had revenue of $211.20 million for the quarter, compared to analysts' expectations of $209.72 million. Costamare had a return on equity of 13.67% and a net margin of 17.10%. During the same period in the previous year, the business posted $0.76 EPS. Equities research analysts predict that Costamare Inc. will post 2.52 EPS for the current 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 paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, July 21st. Costamare's payout ratio is presently 19.49%.

About Costamare

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