Nuveen Asset Management LLC Sells 131,251 Shares of Costamare Inc. (NYSE:CMRE)

Nuveen Asset Management LLC trimmed its stake in Costamare Inc. (NYSE:CMRE - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 500,765 shares of the shipping company's stock after selling 131,251 shares during the period. Nuveen Asset Management LLC owned 0.43% of Costamare worth $6,435,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CMRE. Bridgeway Capital Management LLC increased its stake in shares of Costamare by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,546,489 shares of the shipping company's stock worth $19,872,000 after acquiring an additional 29,354 shares in the last quarter. American Century Companies Inc. increased its stake in Costamare by 18.8% during the 4th quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company's stock valued at $13,845,000 after purchasing an additional 170,412 shares in the last quarter. Federated Hermes Inc. increased its stake in Costamare by 10.6% during the 4th quarter. Federated Hermes Inc. now owns 817,359 shares of the shipping company's stock valued at $10,503,000 after purchasing an additional 78,377 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Costamare by 0.6% during the 4th quarter. Ameriprise Financial Inc. now owns 780,662 shares of the shipping company's stock valued at $10,032,000 after purchasing an additional 4,791 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Costamare by 5.1% during the 4th quarter. Empowered Funds LLC now owns 602,062 shares of the shipping company's stock valued at $7,736,000 after purchasing an additional 29,354 shares in the last quarter. 58.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMRE has been the subject of several research reports. Wall Street Zen initiated coverage on shares of Costamare in a report on Thursday, May 15th. They set a "hold" rating for the company. Jefferies Financial Group reissued a "hold" rating and set a $13.00 price objective on shares of Costamare in a report on Wednesday, February 5th.

Costamare Stock Performance

CMRE stock traded up $0.09 during midday trading on Wednesday, reaching $8.65. 540,469 shares of the company's stock traded hands, compared to its average volume of 463,910. Costamare Inc. has a 52-week low of $6.63 and a 52-week high of $17.58. The stock has a market cap of $1.04 billion, a P/E ratio of 3.55 and a beta of 1.13. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The stock's 50-day moving average is $8.82 and its 200 day moving average is $10.79.

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

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Thursday, April 17th were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, April 17th. This represents a $0.46 dividend on an annualized basis and a yield of 5.32%. Costamare's dividend payout ratio is currently 18.85%.

Costamare Profile