Oppenheimer & Co. Inc. Purchases New Stake in Costamare Inc. (NYSE:CMRE)

Oppenheimer & Co. Inc. acquired a new position in shares of Costamare Inc. (NYSE:CMRE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 56,348 shares of the shipping company’s stock, valued at approximately $886,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CMRE. Bridgeway Capital Management LLC raised its position in shares of Costamare by 20.6% in the first quarter. Bridgeway Capital Management LLC now owns 1,583,997 shares of the shipping company’s stock valued at $17,978,000 after buying an additional 270,168 shares in the last quarter. Acadian Asset Management LLC increased its position in Costamare by 1,322.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock worth $24,119,000 after purchasing an additional 1,366,344 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Costamare by 62.9% in the 2nd quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company’s stock valued at $10,216,000 after acquiring an additional 239,970 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Costamare by 25,731.0% during the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock valued at $6,595,000 after purchasing an additional 399,860 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Costamare by 985.5% during the 2nd quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company’s stock worth $5,875,000 after buying an additional 324,618 shares during the period. Institutional investors and hedge funds own 58.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CMRE. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus upped their target price on shares of Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group restated a “hold” rating and set a $13.00 price objective on shares of Costamare in a research note on Friday, November 1st.

Costamare Price Performance

Shares of NYSE:CMRE opened at $14.50 on Wednesday. The company has a market capitalization of $1.71 billion, a P/E ratio of 4.82 and a beta of 1.37. The company’s 50-day moving average is $14.33 and its 200 day moving average is $14.59. 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 released its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. 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 previous year, the company earned $0.46 earnings per share. On average, equities research analysts forecast 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. Stockholders of record on Monday, October 21st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.17%. Costamare’s dividend payout ratio is presently 15.28%.

About Costamare