Barnett & Company Inc. Sells 15,725 Shares of Costamare Inc. (NYSE:CMRE)
Barnett & Company Inc. lowered its stake in Costamare Inc. (NYSE:CMRE) by 29.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,575 shares of the shipping company’s stock after selling 15,725 shares during the period. Barnett & Company Inc.’s holdings in Costamare were worth $282,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. American International Group Inc. raised its stake in shares of Costamare by 7.9% in the first quarter. American International Group Inc. now owns 16,419 shares of the shipping company’s stock worth $109,000 after buying an additional 1,202 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Costamare by 4.0% in the first quarter. Nationwide Fund Advisors now owns 84,031 shares of the shipping company’s stock worth $560,000 after buying an additional 3,211 shares in the last quarter. State Street Corp raised its stake in shares of Costamare by 0.8% in the fourth quarter. State Street Corp now owns 431,593 shares of the shipping company’s stock worth $2,417,000 after buying an additional 3,614 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Costamare by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 285,279 shares of the shipping company’s stock worth $1,598,000 after buying an additional 3,875 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Costamare by 14.1% in the first quarter. HighTower Advisors LLC now owns 31,686 shares of the shipping company’s stock worth $211,000 after buying an additional 3,910 shares in the last quarter. Institutional investors and hedge funds own 19.04% of the company’s stock.
Shares of Costamare Inc. (CMRE) opened at 6.60 on Friday. The stock has a 50 day moving average price of $6.87 and a 200-day moving average price of $6.63. Costamare Inc. has a 12 month low of $5.07 and a 12 month high of $9.54. The company has a market capitalization of $637.79 million, a price-to-earnings ratio of 16.46 and a beta of 2.21.
Costamare (NYSE:CMRE) last released its earnings results on Tuesday, July 25th. The shipping company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $104.23 million. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The company’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Analysts expect that Costamare Inc. will post $0.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 7th. Stockholders of record on Monday, July 24th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, July 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.06%. Costamare’s dividend payout ratio is 105.27%.
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A number of brokerages have recently weighed in on CMRE. TheStreet upgraded Costamare from a “d+” rating to a “c” rating in a research report on Friday, April 28th. Zacks Investment Research lowered Costamare from a “hold” rating to a “strong sell” rating in a research report on Monday, July 3rd. BidaskClub upgraded Costamare from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price objective on shares of Costamare in a research report on Friday, July 14th. Finally, ValuEngine lowered Costamare from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $8.50.
Costamare Company Profile
Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.
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