GSA Capital Partners LLP Acquires New Position in Columbia Sportswear Company (NASDAQ:COLM)

GSA Capital Partners LLP acquired a new stake in Columbia Sportswear Company (NASDAQ:COLM - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,384 shares of the textile maker's stock, valued at approximately $1,164,000.

A number of other large investors also recently modified their holdings of the company. Invesco Ltd. increased its position in shares of Columbia Sportswear by 25.3% in the 4th quarter. Invesco Ltd. now owns 530,600 shares of the textile maker's stock valued at $44,533,000 after purchasing an additional 107,157 shares during the last quarter. Northern Trust Corp increased its position in shares of Columbia Sportswear by 19.2% in the 4th quarter. Northern Trust Corp now owns 379,016 shares of the textile maker's stock valued at $31,811,000 after purchasing an additional 61,088 shares during the last quarter. Norges Bank purchased a new stake in shares of Columbia Sportswear in the 4th quarter valued at approximately $25,710,000. Arrowstreet Capital Limited Partnership increased its position in shares of Columbia Sportswear by 447.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 294,471 shares of the textile maker's stock valued at $24,715,000 after purchasing an additional 240,709 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Columbia Sportswear by 11.2% in the 4th quarter. AQR Capital Management LLC now owns 276,992 shares of the textile maker's stock valued at $23,248,000 after purchasing an additional 27,852 shares during the last quarter. 47.76% of the stock is owned by hedge funds and other institutional investors.

Columbia Sportswear Stock Down 12.9%

NASDAQ:COLM traded down $7.27 during trading hours on Friday, reaching $49.30. 2,604,862 shares of the company's stock were exchanged, compared to its average volume of 559,208. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 3.83 and a beta of 1.00. The company has a 50-day moving average of $61.35 and a 200 day moving average of $70.87. Columbia Sportswear Company has a 1-year low of $48.10 and a 1-year high of $92.88.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last released its earnings results on Thursday, July 31st. The textile maker reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.09. Columbia Sportswear had a net margin of 6.59% and a return on equity of 12.78%. The company had revenue of $605.25 million during the quarter, compared to analysts' expectations of $587.97 million. During the same quarter last year, the business earned ($0.20) EPS. The business's revenue was up 6.1% on a year-over-year basis. Research analysts forecast that Columbia Sportswear Company will post 4.1 EPS for the current fiscal year.

Columbia Sportswear Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, August 21st. Columbia Sportswear's dividend payout ratio (DPR) is 30.69%.

Insider Activity at Columbia Sportswear

In other news, Director Stephen E. Babson sold 2,776 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $65.94, for a total value of $183,049.44. Following the completion of the sale, the director owned 128,309 shares in the company, valued at approximately $8,460,695.46. This trade represents a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 48.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on COLM. Needham & Company LLC initiated coverage on shares of Columbia Sportswear in a research report on Friday, May 30th. They issued a "hold" rating on the stock. Citigroup dropped their target price on shares of Columbia Sportswear from $64.00 to $61.00 and set a "neutral" rating on the stock in a research report on Friday. Stifel Nicolaus dropped their target price on shares of Columbia Sportswear from $75.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday. UBS Group dropped their target price on shares of Columbia Sportswear from $45.00 to $40.00 and set a "sell" rating on the stock in a research report on Friday. Finally, Barclays dropped their target price on shares of Columbia Sportswear from $62.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $60.80.

Columbia Sportswear Company Profile

Columbia Sportswear Company, together with its subsidiaries, designs, develops, markets, and distributes outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment for hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.