Costamare Inc. $CMRE Shares Purchased by State of Wyoming

Key Points

• The State of Wyoming increased its holdings in Costamare Inc. by 391.6% during the 1st quarter, acquiring 31,716 additional shares.
• Costamare recently reported an earnings per share (EPS) of $0.77, exceeding analysts' expectations of $0.48, along with a revenue of $211.20 million.
• The company declared a quarterly dividend of $0.115, which reflects an annualized yield of 4.0% and a payout ratio of 19.49%.

State of Wyoming boosted its stake in shares of Costamare Inc. (NYSE:CMRE - Free Report) by 391.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,815 shares of the shipping company's stock after buying an additional 31,716 shares during the period. State of Wyoming's holdings in Costamare were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CMRE. Aquatic Capital Management LLC purchased a new stake in Costamare during the fourth quarter worth $45,000. New Age Alpha Advisors LLC lifted its holdings in shares of Costamare by 89.4% during the 1st quarter. New Age Alpha Advisors LLC now owns 7,393 shares of the shipping company's stock valued at $73,000 after purchasing an additional 3,489 shares during the last quarter. Man Group plc purchased a new stake in shares of Costamare during the 4th quarter valued at $133,000. Mariner LLC purchased a new stake in shares of Costamare during the 4th quarter valued at $134,000. Finally, Graham Capital Management L.P. purchased a new stake in shares of Costamare during the 4th quarter valued at $145,000. Hedge funds and other institutional investors own 58.08% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on Costamare in a report on Thursday, May 15th. They set a "hold" rating for the company. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Costamare has an average rating of "Hold" and a consensus target price of $13.00.

Costamare Stock Performance

CMRE stock traded up $0.34 during midday trading on Wednesday, reaching $11.89. The stock had a trading volume of 378,044 shares, compared to its average volume of 516,446. The stock has a market cap of $1.43 billion, a PE ratio of 5.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.64 and a current ratio of 1.68. The firm has a fifty day simple moving average of $10.28 and a two-hundred day simple moving average of $9.66. Costamare Inc. has a 52-week low of $6.63 and a 52-week high of $15.96.

Costamare (NYSE:CMRE - Get Free Report) last announced its quarterly 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. The company had revenue of $211.20 million for 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 last year, the firm earned $0.76 EPS. As a group, equities research analysts anticipate that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, July 21st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, July 21st. Costamare's dividend payout ratio (DPR) is currently 19.49%.

Costamare Company Profile