Allspring Global Investments Holdings LLC Trims Position in Costamare Inc. $CMRE

Allspring Global Investments Holdings LLC cut its holdings in shares of Costamare Inc. (NYSE:CMRE) by 9.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,171 shares of the shipping company’s stock after selling 2,396 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Costamare were worth $202,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CMRE. Nuveen LLC acquired a new stake in Costamare in the 1st quarter valued at $99,482,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Costamare during the 2nd quarter worth about $26,767,000. Millennium Management LLC acquired a new stake in shares of Costamare during the 1st quarter worth about $6,075,000. Goldman Sachs Group Inc. grew its position in Costamare by 42.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 479,822 shares of the shipping company’s stock valued at $4,721,000 after acquiring an additional 142,372 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Costamare by 156.9% in the 1st quarter. Jane Street Group LLC now owns 200,984 shares of the shipping company’s stock valued at $1,978,000 after acquiring an additional 122,737 shares in the last quarter. 58.08% of the stock is owned by hedge funds and other institutional investors.

Costamare Price Performance

Shares of NYSE CMRE opened at $11.43 on Monday. The firm has a market cap of $1.37 billion, a PE ratio of 4.84 and a beta of 1.38. The business has a 50 day moving average price of $11.81 and a two-hundred day moving average price of $10.14. The company has a quick ratio of 1.64, a current ratio of 1.68 and a debt-to-equity ratio of 0.65. Costamare Inc. has a fifty-two week low of $6.63 and a fifty-two week high of $14.85.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Thursday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.29. Costamare had a return on equity of 13.67% and a net margin of 17.10%.The business had revenue of $211.20 million for the quarter, compared to the consensus estimate of $209.72 million. During the same quarter last year, the business posted $0.76 EPS. Sell-side analysts expect that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Tuesday, October 21st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, October 21st. Costamare’s payout ratio is currently 19.49%.

Analysts Set New Price Targets

CMRE has been the subject of a number of analyst reports. Zacks Research downgraded Costamare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Costamare in a report on Friday. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Costamare has a consensus rating of “Hold” and a consensus price target of $13.00.

About Costamare