American Century Companies Inc. decreased its stake in shares of Costamare (NYSE:CMRE) by 64.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,679 shares of the shipping company’s stock after selling 102,485 shares during the quarter. American Century Companies Inc. owned about 0.05% of Costamare worth $347,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Costamare during the 1st quarter worth approximately $280,000. Wells Fargo & Company MN increased its position in shares of Costamare by 134.0% during the 1st quarter. Wells Fargo & Company MN now owns 675,226 shares of the shipping company’s stock worth $4,213,000 after purchasing an additional 386,645 shares during the last quarter. Sterling Capital Management LLC acquired a new position in shares of Costamare during the 4th quarter worth approximately $875,000. TIAA CREF Investment Management LLC increased its position in shares of Costamare by 6.9% during the 4th quarter. TIAA CREF Investment Management LLC now owns 257,901 shares of the shipping company’s stock worth $1,488,000 after purchasing an additional 16,574 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Costamare by 13.9% during the 4th quarter. Teachers Advisors LLC now owns 250,941 shares of the shipping company’s stock worth $1,448,000 after purchasing an additional 30,704 shares during the last quarter. 24.68% of the stock is currently owned by hedge funds and other institutional investors.
Costamare opened at $7.29 on Friday, MarketBeat Ratings reports. The company has a current ratio of 1.19, a quick ratio of 1.14 and a debt-to-equity ratio of 0.70. The company has a market cap of $802.58 million, a P/E ratio of 9.47 and a beta of 1.98. Costamare has a 1-year low of $5.45 and a 1-year high of $7.78.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 8th. Investors of record on Friday, April 20th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Thursday, April 19th. Costamare’s payout ratio is presently 51.95%.
CMRE has been the topic of several recent analyst reports. ValuEngine raised Costamare from a “hold” rating to a “buy” rating in a research report on Friday, April 13th. Zacks Investment Research lowered Costamare from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock has an average rating of “Sell” and a consensus price target of $6.83.
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 23, 2018, it had a fleet of 71 containerships with a total capacity of approximately 466,000 twenty foot equivalent unit (TEU), including 64 vessels in the water, aggregating approximately 462,000 TEU; and 1 new build vessel of 3,800 TEU.
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