Rhumbline Advisers Sells 8,306 Shares of Columbia Sportswear (NASDAQ:COLM)

Rhumbline Advisers reduced its stake in Columbia Sportswear (NASDAQ:COLM - Free Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,562 shares of the textile maker's stock after selling 8,306 shares during the period. Rhumbline Advisers owned 0.22% of Columbia Sportswear worth $9,352,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in COLM. Smartleaf Asset Management LLC grew its holdings in shares of Columbia Sportswear by 184.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the textile maker's stock valued at $25,000 after buying an additional 194 shares in the last quarter. Signaturefd LLC increased its stake in shares of Columbia Sportswear by 18.4% in the fourth quarter. Signaturefd LLC now owns 915 shares of the textile maker's stock worth $77,000 after acquiring an additional 142 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Columbia Sportswear during the fourth quarter worth $76,000. Kapitalo Investimentos Ltda acquired a new stake in Columbia Sportswear during the fourth quarter valued at $139,000. Finally, Covestor Ltd boosted its position in Columbia Sportswear by 13.0% during the fourth quarter. Covestor Ltd now owns 2,101 shares of the textile maker's stock valued at $177,000 after purchasing an additional 241 shares during the last quarter. 47.76% of the stock is owned by institutional investors and hedge funds.

Columbia Sportswear Trading Down 1.2%

COLM traded down $0.75 during trading on Thursday, hitting $62.23. The stock had a trading volume of 186,589 shares, compared to its average volume of 602,215. The firm has a market cap of $3.43 billion, a PE ratio of 16.08, a P/E/G ratio of 2.54 and a beta of 1.00. Columbia Sportswear has a 12 month low of $58.44 and a 12 month high of $92.88. The company has a 50 day simple moving average of $64.55 and a 200-day simple moving average of $77.44.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The textile maker reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. The company had revenue of $778.45 million during the quarter, compared to analysts' expectations of $763.50 million. Columbia Sportswear had a return on equity of 12.23% and a net margin of 6.63%. Columbia Sportswear's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. As a group, sell-side analysts anticipate that Columbia Sportswear will post 4.1 earnings per share for the current fiscal year.

Columbia Sportswear Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.93%. Columbia Sportswear's payout ratio is 30.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus cut their price target on Columbia Sportswear from $91.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Barclays reduced their target price on shares of Columbia Sportswear from $64.00 to $62.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. UBS Group boosted their target price on shares of Columbia Sportswear from $42.00 to $51.00 and gave the stock a "sell" rating in a research report on Monday, April 14th. Citigroup restated a "neutral" rating and set a $68.00 price target (down previously from $80.00) on shares of Columbia Sportswear in a report on Monday, April 7th. Finally, Needham & Company LLC assumed coverage on shares of Columbia Sportswear in a research note on Friday, May 30th. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Columbia Sportswear currently has a consensus rating of "Hold" and a consensus price target of $70.00.

Insider Buying and Selling

In other Columbia Sportswear news, Director Stephen E. Babson sold 2,776 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $65.94, for a total transaction of $183,049.44. Following the completion of the transaction, the director now owns 128,309 shares in the company, valued at $8,460,695.46. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 48.30% of the stock is owned by company insiders.

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.