Gladius Capital Management LP Invests $35,000 in Costamare Inc. (NYSE:CMRE)

Gladius Capital Management LP acquired a new stake in shares of Costamare Inc. (NYSE:CMRE) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,211 shares of the shipping company’s stock, valued at approximately $35,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its holdings in shares of Costamare by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 572,708 shares of the shipping company’s stock valued at $9,003,000 after buying an additional 29,078 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Costamare in the 3rd quarter valued at $886,000. Los Angeles Capital Management LLC raised its holdings in Costamare by 9.7% during the third quarter. Los Angeles Capital Management LLC now owns 160,579 shares of the shipping company’s stock valued at $2,524,000 after buying an additional 14,198 shares in the last quarter. Lifestyle Asset Management Inc. acquired a new stake in shares of Costamare in the third quarter worth about $332,000. Finally, Principal Financial Group Inc. boosted its position in shares of Costamare by 34.2% in the third quarter. Principal Financial Group Inc. now owns 59,177 shares of the shipping company’s stock valued at $930,000 after acquiring an additional 15,092 shares during the period. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Stock Down 1.1 %

CMRE opened at $14.39 on Friday. Costamare Inc. has a fifty-two week low of $9.16 and a fifty-two week high of $17.58. The company has a market capitalization of $1.69 billion, a P/E ratio of 4.78 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The firm’s fifty day moving average price is $14.26 and its two-hundred day moving average price is $14.54.

Costamare (NYSE:CMRE) last issued its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The business had revenue of $544.64 million for the quarter, compared to analyst estimates of $434.13 million. During the same period in the previous year, the business earned $0.46 EPS. On average, analysts anticipate that Costamare Inc. will post 2.83 EPS for the current year.

Costamare Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were paid a $0.115 dividend. The ex-dividend date was Monday, October 21st. This represents a $0.46 annualized dividend and a dividend yield of 3.20%. Costamare’s dividend payout ratio is currently 15.28%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stifel Nicolaus upped their target price on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group restated a “hold” rating and set a $13.00 price target on shares of Costamare in a research note on Friday, November 1st.

Costamare Company Profile