Counterpoint Mutual Funds LLC Purchases New Holdings in Costamare Inc. (NYSE:CMRE)

Counterpoint Mutual Funds LLC bought a new position in Costamare Inc. (NYSE:CMRE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 23,255 shares of the shipping company’s stock, valued at approximately $299,000.

A number of other hedge funds have also added to or reduced their stakes in CMRE. Quarry LP grew its stake in Costamare by 157.5% in the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock worth $51,000 after acquiring an additional 2,003 shares in the last quarter. Victory Capital Management Inc. bought a new position in Costamare in the 4th quarter worth about $130,000. Blue Trust Inc. grew its stake in Costamare by 43.5% in the 4th quarter. Blue Trust Inc. now owns 10,606 shares of the shipping company’s stock worth $136,000 after acquiring an additional 3,213 shares in the last quarter. Intech Investment Management LLC bought a new position in Costamare in the 3rd quarter worth about $195,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Costamare in the 3rd quarter worth approximately $213,000. 58.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CMRE shares. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Jefferies Financial Group reiterated a “hold” rating and set a $13.00 price objective on shares of Costamare in a research note on Wednesday, February 5th.

Costamare Price Performance

NYSE CMRE opened at $10.45 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. The firm’s 50 day moving average price is $11.09 and its 200-day moving average price is $12.83. Costamare Inc. has a 52-week low of $9.66 and a 52-week high of $17.58. The company has a market cap of $1.25 billion, a PE ratio of 4.28 and a beta of 1.28.

Costamare (NYSE:CMRE) last released its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. Sell-side analysts forecast that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st were paid a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $0.46 annualized dividend and a yield of 4.40%. Costamare’s dividend payout ratio (DPR) is 18.85%.

Costamare Profile