Northern Trust Corp Lowers Position in Costamare Inc. (NYSE:CMRE)

Northern Trust Corp cut its holdings in Costamare Inc. (NYSE:CMRE - Free Report) by 15.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 307,343 shares of the shipping company's stock after selling 58,177 shares during the period. Northern Trust Corp owned approximately 0.26% of Costamare worth $3,949,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CMRE. Aquatic Capital Management LLC purchased a new position in shares of Costamare in the fourth quarter worth about $45,000. Boothbay Fund Management LLC bought a new position in Costamare during the 4th quarter worth approximately $257,000. Susquehanna Fundamental Investments LLC purchased a new position in Costamare in the 4th quarter worth approximately $225,000. Price T Rowe Associates Inc. MD lifted its position in Costamare by 21.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,099 shares of the shipping company's stock valued at $220,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Costamare by 3.2% in the fourth quarter. Stifel Financial Corp now owns 59,433 shares of the shipping company's stock valued at $764,000 after purchasing an additional 1,832 shares during the last quarter. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Trading Down 1.0%

CMRE traded down $0.09 during midday trading on Wednesday, reaching $8.37. 299,229 shares of the company's stock traded hands, compared to its average volume of 472,815. Costamare Inc. has a 52 week low of $6.63 and a 52 week high of $17.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The firm has a fifty day moving average of $8.97 and a two-hundred day moving average of $10.98. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 3.43 and a beta of 1.13.

Costamare (NYSE:CMRE - Get Free Report) last posted its earnings results on Thursday, May 8th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.09. Costamare had a return on equity of 14.03% and a net margin of 15.14%. The firm had revenue of $440.54 million for the quarter, compared to analysts' expectations of $330.14 million. On average, equities analysts anticipate that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Thursday, April 17th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date was Thursday, April 17th. Costamare's payout ratio is currently 18.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMRE. Jefferies Financial Group restated a "hold" rating and issued a $13.00 target price on shares of Costamare in a report on Wednesday, February 5th. Wall Street Zen started coverage on shares of Costamare in a report on Thursday, May 15th. They issued a "hold" rating on the stock.

Costamare Profile