Federated Hermes Inc. Decreases Stake in Costamare Inc. (NYSE:CMRE)

Federated Hermes Inc. reduced its stake in shares of Costamare Inc. (NYSE:CMRE - Free Report) by 43.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 460,224 shares of the shipping company's stock after selling 357,135 shares during the period. Federated Hermes Inc. owned 0.38% of Costamare worth $4,529,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Costamare by 33.3% in 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Costamare in the 4th quarter valued at $1,399,000. Hussman Strategic Advisors Inc. raised its holdings in Costamare by 233.3% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the shipping company's stock valued at $1,033,000 after acquiring an additional 73,500 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Costamare by 10.5% in 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 during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in Costamare in the 4th quarter valued at $633,000. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Costamare Trading Up 4.7%

Shares of CMRE stock traded up $0.49 on Tuesday, reaching $11.01. 1,040,459 shares of the stock were exchanged, compared to its average volume of 520,428. The stock has a market cap of $1.32 billion, a P/E ratio of 4.67 and a beta of 1.28. The company has a quick ratio of 1.47, a current ratio of 1.68 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $9.26 and a two-hundred day moving average of $9.65. Costamare Inc. has a 1-year low of $6.63 and a 1-year high of $15.96.

Costamare (NYSE:CMRE - Get Free Report) last released its quarterly earnings data 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 business 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 in the prior year, the firm posted $0.76 EPS. On average, research analysts anticipate that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, July 21st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, July 21st. Costamare's dividend payout ratio is 19.49%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen assumed coverage on Costamare in a report on Thursday, May 15th. They issued a "hold" rating for the company.

About Costamare