Federated Hermes Inc. Sells 357,135 Shares of Costamare Inc. (NYSE:CMRE)

Federated Hermes Inc. decreased its holdings in Costamare Inc. (NYSE:CMRE - Free Report) by 43.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 460,224 shares of the shipping company's stock after selling 357,135 shares during the period. Federated Hermes Inc. owned approximately 0.38% of Costamare worth $4,529,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. HB Wealth Management LLC purchased a new position in shares of Costamare in the first quarter worth approximately $199,000. Navellier & Associates Inc. lifted its stake in shares of Costamare by 8.6% during the 1st quarter. Navellier & Associates Inc. now owns 25,382 shares of the shipping company's stock valued at $240,000 after buying an additional 2,012 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Costamare in the 1st quarter worth $274,000. Denali Advisors LLC boosted its holdings in Costamare by 9.2% in the 1st quarter. Denali Advisors LLC now owns 555,073 shares of the shipping company's stock worth $5,462,000 after buying an additional 46,878 shares during the period. Finally, Hussman Strategic Advisors Inc. increased its stake in Costamare by 233.3% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the shipping company's stock worth $1,033,000 after buying an additional 73,500 shares in the last quarter. Hedge funds and other institutional investors own 58.08% of the company's stock.

Analyst Upgrades and Downgrades

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

Costamare Price Performance

CMRE traded down $0.34 during trading on Thursday, hitting $10.72. 259,803 shares of the company traded hands, compared to its average volume of 510,614. The company has a market cap of $1.29 billion, a PE ratio of 4.54 and a beta of 1.28. The stock's 50-day simple moving average is $9.36 and its two-hundred day simple moving average is $9.67. Costamare Inc. has a 1 year low of $6.63 and a 1 year high of $15.96. The company has a current ratio of 1.68, a quick ratio of 1.47 and a debt-to-equity ratio of 0.65.

Costamare (NYSE:CMRE - Get Free Report) last posted its earnings results 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 net margin of 17.10% and a return on equity of 13.67%. The company had revenue of $211.20 million during the quarter, compared to analysts' expectations of $209.72 million. During the same period last year, the company posted $0.76 earnings per share. As a group, sell-side analysts anticipate that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 21st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.46 dividend on an annualized basis and a yield of 4.3%. Costamare's dividend payout ratio is presently 19.49%.

Costamare Company Profile