Quarry LP Boosts Stock Position in Costamare Inc. (NYSE:CMRE)

Quarry LP grew its holdings in shares of Costamare Inc. (NYSE:CMRE) by 157.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,275 shares of the shipping company’s stock after acquiring an additional 2,003 shares during the quarter. Quarry LP’s holdings in Costamare were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. nVerses Capital LLC lifted its stake in Costamare by 1,700.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 1,700 shares during the last quarter. Gladius Capital Management LP bought a new stake in shares of Costamare in the third quarter valued at $35,000. CWM LLC lifted its position in shares of Costamare by 53.6% during the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock valued at $71,000 after buying an additional 1,502 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of Costamare during the 2nd quarter worth $80,000. Finally, Blue Trust Inc. increased its holdings in Costamare by 2,540.4% in the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after acquiring an additional 7,113 shares during the last quarter. 58.08% of the stock is currently owned by institutional investors.

Costamare Price Performance

Shares of NYSE CMRE opened at $13.36 on Wednesday. The stock has a fifty day moving average of $13.99 and a 200-day moving average of $14.54. The stock has a market cap of $1.57 billion, a PE ratio of 4.44 and a beta of 1.34. 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 Inc. has a fifty-two week low of $9.16 and a fifty-two week high of $17.58.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The firm had revenue of $544.64 million for the quarter, compared to analysts’ expectations of $434.13 million. During the same period in the prior year, the business posted $0.46 earnings per share. Equities research analysts anticipate that Costamare Inc. will post 2.83 earnings per share for the current year.

Costamare Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.44%. The ex-dividend date was Monday, October 21st. Costamare’s payout ratio is 15.28%.

Wall Street Analyst Weigh In

Several research firms have commented on CMRE. Jefferies Financial Group reaffirmed a “hold” rating and set a $13.00 price objective on shares of Costamare in a report on Friday, November 1st. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Costamare Company Profile