Allspring Global Investments Holdings LLC Grows Stock Holdings in Costamare Inc. (NYSE:CMRE)

Allspring Global Investments Holdings LLC boosted its stake in Costamare Inc. (NYSE:CMRE) by 63.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,037 shares of the shipping company’s stock after acquiring an additional 15,099 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Costamare were worth $406,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Costamare by 1,282.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,428 shares of the shipping company’s stock worth $2,063,000 after acquiring an additional 198,922 shares during the period. Los Angeles Capital Management LLC increased its position in Costamare by 177.5% during the third quarter. Los Angeles Capital Management LLC now owns 208,277 shares of the shipping company’s stock worth $2,004,000 after purchasing an additional 133,225 shares during the last quarter. Gallacher Capital Management LLC acquired a new position in Costamare during the third quarter worth approximately $476,000. Jump Financial LLC acquired a new position in Costamare during the third quarter worth approximately $464,000. Finally, Kendall Capital Management increased its position in shares of Costamare by 24.8% in the third quarter. Kendall Capital Management now owns 171,712 shares of the shipping company’s stock worth $1,652,000 after acquiring an additional 34,170 shares in the last quarter. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on CMRE. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus raised their price objective on shares of Costamare from $11.50 to $12.00 and gave the stock a “hold” rating in a report on Friday, April 19th.

Costamare Trading Up 2.3 %

NYSE CMRE opened at $11.78 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.59 and a current ratio of 1.69. The company has a 50-day simple moving average of $11.26 and a 200-day simple moving average of $10.48. The firm has a market capitalization of $1.39 billion, a PE ratio of 3.99 and a beta of 1.38. Costamare Inc. has a one year low of $7.71 and a one year high of $11.90.

Costamare (NYSE:CMRE) last posted its earnings results on Wednesday, February 7th. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Costamare had a net margin of 25.26% and a return on equity of 11.37%. The firm had revenue of $494.85 million during the quarter, compared to analyst estimates of $419.00 million. During the same period in the previous year, the business posted $0.61 EPS. On average, equities analysts forecast that Costamare Inc. will post 2.75 earnings per share for the current year.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 19th will be given a dividend of $0.115 per share. The ex-dividend date is Thursday, April 18th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.90%. Costamare’s dividend payout ratio (DPR) is 15.59%.

Costamare Profile

Costamare Inc engages in owning and chartering containerships and dry bulk vessels that are chartered to liner companies providing transportation of cargoes worldwide. As of March 21, 2023, it had a fleet of fleet of 71 containerships and 45 dry bulk vessels. The company was founded in 1974 and is based in Monaco.