Lazard Asset Management LLC Lowers Stock Holdings in Costamare Inc. $CMRE

Key Points

• Lazard Asset Management cut its Costamare stake by 93.3% in the first quarter, selling 253,194 shares and retaining 18,089 shares worth approximately $306,000. Institutional investors collectively own 58.08% of CMRE.
• Costamare exceeded quarterly expectations, reporting $0.62 in earnings per share and $196.24 million in revenue, while posting a 39.66% net margin. The company also raised its quarterly dividend to $0.125, implying a 3.4% annual yield.
• Analyst sentiment remains mixed but leans positive, with one Strong Buy and three Hold ratings producing a consensus “Moderate Buy” rating and a $12 target price. CFO Grigorios Zikos separately sold 59,840 shares for roughly $918,000.

Lazard Asset Management LLC lowered its stake in Costamare Inc. (NYSE:CMRE - Free Report) by 93.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,089 shares of the shipping company's stock after selling 253,194 shares during the period. Lazard Asset Management LLC's holdings in Costamare were worth $306,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CMRE. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Costamare by 2.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 473,957 shares of the shipping company's stock worth $8,010,000 after purchasing an additional 12,381 shares during the period. Sei Investments Co. grew its position in Costamare by 38.5% in the 1st quarter. Sei Investments Co. now owns 156,850 shares of the shipping company's stock valued at $2,651,000 after buying an additional 43,572 shares during the last quarter. First Trust Advisors LP increased its stake in Costamare by 131.6% in the 1st quarter. First Trust Advisors LP now owns 30,268 shares of the shipping company's stock valued at $512,000 after buying an additional 17,198 shares during the period. Dimensional Fund Advisors LP increased its stake in Costamare by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,178,665 shares of the shipping company's stock valued at $121,315,000 after buying an additional 21,279 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Costamare by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 26,852 shares of the shipping company's stock worth $456,000 after buying an additional 2,760 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company's stock.

Insider Buying and Selling

In related news, CFO Grigorios Zikos sold 59,840 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $15.34, for a total value of $917,945.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 23.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CMRE shares. Weiss Ratings raised shares of Costamare from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Fearnley Fonds upgraded shares of Costamare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Finally, Wall Street Zen lowered Costamare from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Costamare presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

Costamare Stock Performance

Shares of CMRE stock opened at $14.63 on Friday. The stock has a fifty day moving average price of $15.21 and a 200 day moving average price of $16.24. The stock has a market cap of $1.76 billion, a PE ratio of 5.56 and a beta of 1.06. Costamare Inc. has a 1 year low of $10.48 and a 1 year high of $18.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.57 and a current ratio of 1.61.

Costamare (NYSE:CMRE - Get Free Report) last posted its earnings results on Monday, July 27th. The shipping company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. Costamare had a return on equity of 15.11% and a net margin of 39.66%.The company had revenue of $196.24 million for the quarter, compared to analyst estimates of $193.16 million.

Costamare Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Tuesday, July 21st were given a $0.125 dividend. The ex-dividend date was Tuesday, July 21st. This represents a $0.50 annualized dividend and a dividend yield of 3.4%. This is a boost from Costamare's previous quarterly dividend of $0.12. Costamare's payout ratio is presently 19.01%.

About Costamare

Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long‐term and short‐term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.

Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.

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