Connor Clark & Lunn Investment Management Ltd. Buys 35,193 Shares of Costamare Inc. (NYSE:CMRE)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Costamare Inc. (NYSE:CMRE) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 222,379 shares of the shipping company’s stock after purchasing an additional 35,193 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Costamare worth $2,858,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DGS Capital Management LLC increased its position in shares of Costamare by 6.1% during the third quarter. DGS Capital Management LLC now owns 21,659 shares of the shipping company’s stock worth $340,000 after buying an additional 1,238 shares during the period. Kendall Capital Management boosted its position in Costamare by 0.6% during the fourth quarter. Kendall Capital Management now owns 242,374 shares of the shipping company’s stock valued at $3,115,000 after acquiring an additional 1,370 shares during the last quarter. Quarry LP grew its holdings in Costamare by 157.5% during the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock worth $51,000 after acquiring an additional 2,003 shares during the period. Zacks Investment Management raised its position in shares of Costamare by 14.6% in the 3rd quarter. Zacks Investment Management now owns 18,988 shares of the shipping company’s stock worth $298,000 after acquiring an additional 2,420 shares in the last quarter. Finally, ClearAlpha Technologies LP lifted its stake in shares of Costamare by 11.0% in the 3rd quarter. ClearAlpha Technologies LP now owns 31,379 shares of the shipping company’s stock valued at $493,000 after purchasing an additional 3,108 shares during the period. Institutional investors and hedge funds own 58.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CMRE. Jefferies Financial Group reaffirmed a “hold” rating and set a $13.00 target price on shares of Costamare in a research note on Wednesday, February 5th. StockNews.com cut Costamare from a “buy” rating to a “hold” rating in a report on Friday.

Costamare Price Performance

Shares of NYSE CMRE opened at $10.27 on Tuesday. The firm has a market capitalization of $1.23 billion, a P/E ratio of 4.21 and a beta of 1.28. The firm’s 50-day moving average price is $11.13 and its 200-day moving average price is $12.86. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. Costamare Inc. has a 1-year low of $9.66 and a 1-year high of $17.58.

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

Costamare Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Tuesday, January 21st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Tuesday, January 21st. Costamare’s dividend payout ratio is currently 18.85%.

Costamare Company Profile