Segall Bryant & Hamill LLC Cuts Stock Position in Costamare Inc. (NYSE:CMRE)

Segall Bryant & Hamill LLC lessened its stake in shares of Costamare Inc. (NYSE:CMRE) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,977 shares of the shipping company’s stock after selling 14,040 shares during the period. Segall Bryant & Hamill LLC’s holdings in Costamare were worth $3,765,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of Costamare by 2.6% in the 3rd quarter. State Street Corp now owns 1,213,838 shares of the shipping company’s stock worth $19,082,000 after purchasing an additional 30,986 shares during the last quarter. American Century Companies Inc. increased its stake in Costamare by 18.8% during 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 purchasing an additional 170,412 shares in the last quarter. Empowered Funds LLC raised its holdings in Costamare by 5.1% in the fourth quarter. Empowered Funds LLC now owns 602,062 shares of the shipping company’s stock worth $7,736,000 after buying an additional 29,354 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Costamare by 87.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company’s stock worth $7,071,000 after buying an additional 257,422 shares in the last quarter. Finally, Denali Advisors LLC grew its holdings in shares of Costamare by 1.7% during the fourth quarter. Denali Advisors LLC now owns 508,195 shares of the shipping company’s stock valued at $6,530,000 after buying an additional 8,300 shares during the last quarter. 58.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Costamare Stock Performance

Shares of NYSE CMRE opened at $10.02 on Friday. The firm’s 50-day moving average price is $10.76 and its 200-day moving average price is $12.68. Costamare Inc. has a 52-week low of $9.66 and a 52-week high of $17.58. The company has a market cap of $1.20 billion, a PE ratio of 4.11 and a beta of 1.28. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE) last issued its earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. As a group, analysts anticipate that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st were paid a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.59%. Costamare’s dividend payout ratio (DPR) is currently 18.85%.

About Costamare