Connor Clark & Lunn Investment Management Ltd. Has $2.86 Million Holdings in Costamare Inc. (NYSE:CMRE)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Costamare Inc. (NYSE:CMRE) by 18.8% during the 4th quarter, Holdings Channel.com reports. 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.’s holdings in Costamare were worth $2,858,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings 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 purchasing an additional 15,092 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Costamare in the 3rd quarter valued at $886,000. Intech Investment Management LLC bought a new position in Costamare during the 3rd quarter valued at $195,000. Foundry Partners LLC bought a new position in Costamare during the 3rd quarter valued at $4,032,000. Finally, Navellier & Associates Inc. purchased a new position in Costamare during the 3rd quarter worth $408,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Stock Performance

Shares of Costamare stock opened at $10.27 on Tuesday. The business’s fifty day simple moving average is $11.13 and its 200 day simple moving average 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 12 month low of $9.66 and a 12 month high of $17.58. The firm has a market capitalization of $1.23 billion, a P/E ratio of 4.21 and a beta of 1.28.

Costamare (NYSE:CMRE) last released its earnings results on Wednesday, February 5th. The shipping company reported $0.69 EPS 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%. As a group, analysts anticipate that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Dividend Announcement

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

Analyst Upgrades and Downgrades

CMRE has been the subject of several analyst reports. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 target price on shares of Costamare in a report on Wednesday, February 5th. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a research note on Friday.

Costamare Profile