Kingstone Capital Partners Texas LLC Invests $26.77 Million in Costamare Inc. $CMRE

Key Points

• Kingstone Capital Partners Texas LLC acquired a new stake in Costamare Inc. by purchasing 2,938,234 shares valued at approximately $26.77 million, which represents about 2.45% of the company as of the most recent quarter.
• The shipping company reported an earnings per share (EPS) of $0.77 for the last quarter, exceeding the consensus estimate by $0.29, with revenue reaching $211.20 million.
• Costamare declared a quarterly dividend of $0.115 per share, reflecting a 3.7% annualized yield and a payout ratio of 19.49%.

Kingstone Capital Partners Texas LLC acquired a new position in Costamare Inc. (NYSE:CMRE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,938,234 shares of the shipping company's stock, valued at approximately $26,767,000. Kingstone Capital Partners Texas LLC owned approximately 2.45% of Costamare at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMRE. Bank of America Corp DE increased its holdings in shares of Costamare by 14.6% in the 4th quarter. Bank of America Corp DE now owns 132,900 shares of the shipping company's stock worth $1,708,000 after purchasing an additional 16,889 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in shares of Costamare during the fourth quarter valued at approximately $633,000. Deutsche Bank AG boosted its holdings in shares of Costamare by 50.2% in the fourth quarter. Deutsche Bank AG now owns 36,390 shares of the shipping company's stock valued at $468,000 after purchasing an additional 12,160 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Costamare by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the shipping company's stock worth $316,000 after buying an additional 1,064 shares during the period. Finally, Man Group plc acquired a new position in shares of Costamare during the fourth quarter worth $133,000. Institutional investors own 58.08% of the company's stock.

Costamare Trading Up 1.6%

Shares of NYSE CMRE traded up $0.19 during midday trading on Tuesday, reaching $12.41. 114,926 shares of the stock were exchanged, compared to its average volume of 501,683. The stock has a market capitalization of $1.49 billion, a P/E ratio of 5.27 and a beta of 1.29. The company has a 50 day simple moving average of $11.07 and a 200 day simple moving average of $9.83. Costamare Inc. has a twelve month low of $6.63 and a twelve month high of $15.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.64 and a current ratio of 1.68.

Costamare (NYSE:CMRE - Get Free Report) last issued its earnings results on Thursday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $209.72 million. During the same period in the prior year, the business posted $0.76 earnings per share. As a group, equities analysts expect that Costamare Inc. will post 2.52 earnings per share for the current year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 21st were given a $0.115 dividend. The ex-dividend date was Monday, July 21st. This represents a $0.46 annualized dividend and a yield of 3.7%. Costamare's dividend payout ratio (DPR) is currently 19.49%.

Costamare Company Profile