Fox Run Management L.L.C. Buys New Position in Costamare Inc. (NYSE:CMRE)

Fox Run Management L.L.C. purchased a new stake in Costamare Inc. (NYSE:CMRE) in the fourth quarter, Holdings Channel.com reports. The fund purchased 20,053 shares of the shipping company’s stock, valued at approximately $258,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP grew its stake in shares of 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 stake in Costamare in the 4th quarter worth about $130,000. Blue Trust Inc. increased 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 valued at $136,000 after buying an additional 3,213 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Costamare in the 3rd quarter valued at about $195,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Costamare during the 3rd quarter worth approximately $213,000. 58.08% of the stock is owned by hedge funds and other institutional investors.

Costamare Stock Performance

Shares of CMRE stock opened at $10.02 on Friday. 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 has a market cap of $1.20 billion, a price-to-earnings ratio of 4.11 and a beta of 1.28. Costamare Inc. has a 52 week low of $9.66 and a 52 week high of $17.58. The firm’s 50-day simple moving average is $10.76 and its two-hundred day simple moving average is $12.68.

Costamare (NYSE:CMRE) last issued its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. As a group, equities analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current 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 dividend yield of 4.59%. Costamare’s payout ratio is presently 18.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 target price on shares of Costamare in a report on Wednesday, February 5th. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Costamare Profile