Raymond James Financial Inc. Takes Position in Costamare Inc. (NYSE:CMRE)

Raymond James Financial Inc. acquired a new stake in Costamare Inc. (NYSE:CMRE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 108,884 shares of the shipping company's stock, valued at approximately $1,399,000. Raymond James Financial Inc. owned approximately 0.09% of Costamare at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in shares of Costamare by 18.8% during the fourth quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company's stock worth $13,845,000 after purchasing an additional 170,412 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of 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 buying an additional 78,377 shares during the period. Empowered Funds LLC lifted its position in Costamare by 5.1% during the 4th quarter. Empowered Funds LLC now owns 602,062 shares of the shipping company's stock worth $7,736,000 after acquiring an additional 29,354 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Costamare by 87.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company's stock valued at $7,071,000 after acquiring an additional 257,422 shares in the last quarter. Finally, Denali Advisors LLC raised its stake in shares of Costamare by 1.7% during the fourth quarter. Denali Advisors LLC now owns 508,195 shares of the shipping company's stock valued at $6,530,000 after purchasing an additional 8,300 shares during the period. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Stock Performance

Shares of NYSE:CMRE traded up $0.37 on Thursday, hitting $7.42. The company's stock had a trading volume of 122,789 shares, compared to its average volume of 488,748. The stock's 50-day moving average is $9.51 and its two-hundred day moving average is $11.54. The company has a market capitalization of $890.11 million, a price-to-earnings ratio of 3.04 and a beta of 1.13. Costamare Inc. has a 12 month low of $6.63 and a 12 month high of $17.58. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65.

Costamare (NYSE:CMRE - Get Free Report) last announced its earnings results on Thursday, May 8th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.13. Costamare had a return on equity of 14.03% and a net margin of 15.14%. On average, equities research analysts forecast 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 paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend was Thursday, April 17th. Costamare's dividend payout ratio (DPR) is presently 18.85%.

Wall Street Analyst Weigh In

CMRE has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and set a $13.00 target price on shares of Costamare in a research report on Wednesday, February 5th. StockNews.com initiated coverage on shares of Costamare in a report on Wednesday. They set a "hold" rating for the company.

Costamare Profile