Dynamic Technology Lab Private Ltd Buys Shares of 16,797 Costamare Inc. (NYSE:CMRE)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Costamare Inc. (NYSE:CMRE) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 16,797 shares of the shipping company’s stock, valued at approximately $216,000.

Other hedge funds also recently modified their holdings of the company. Sanctuary Advisors LLC grew its holdings in Costamare by 577.2% during the third quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company’s stock valued at $1,200,000 after purchasing an additional 65,040 shares during the period. Barclays PLC grew its stake in shares of Costamare by 291.1% during the 3rd quarter. Barclays PLC now owns 59,016 shares of the shipping company’s stock worth $928,000 after acquiring an additional 43,925 shares during the period. Principal Financial Group Inc. grew its stake in shares of Costamare by 10.9% during the 4th quarter. Principal Financial Group Inc. now owns 65,638 shares of the shipping company’s stock worth $843,000 after acquiring an additional 6,461 shares during the period. New York State Common Retirement Fund increased its holdings in Costamare by 4.2% in the 4th quarter. New York State Common Retirement Fund now owns 223,565 shares of the shipping company’s stock worth $2,873,000 after acquiring an additional 9,100 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Costamare by 18.8% in the 4th quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company’s stock valued at $13,845,000 after acquiring an additional 170,412 shares during the period. Institutional investors own 58.08% of the company’s stock.

Costamare Stock Performance

Shares of CMRE opened at $9.03 on Friday. Costamare Inc. has a 52-week low of $8.11 and a 52-week high of $17.58. The stock’s 50-day simple moving average is $10.07 and its 200 day simple moving average is $12.25. 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 stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 3.70 and a beta of 1.11.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share (EPS) for the quarter, topping 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%. Research analysts forecast that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.10%. Costamare’s dividend payout ratio (DPR) is currently 18.85%.

Analyst Ratings Changes

A number of brokerages have weighed in on CMRE. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Costamare in a report on Wednesday, February 5th.

Costamare Company Profile