Triasima Portfolio Management inc. Has $4.50 Million Stock Position in Gildan Activewear, Inc. (NYSE:GIL)

Triasima Portfolio Management inc. lifted its stake in shares of Gildan Activewear, Inc. (NYSE:GIL - Free Report) TSE: GIL by 124.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 101,765 shares of the textile maker's stock after purchasing an additional 56,375 shares during the quarter. Triasima Portfolio Management inc. owned about 0.07% of Gildan Activewear worth $4,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GIL. Steward Partners Investment Advisory LLC raised its position in shares of Gildan Activewear by 500.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 894 shares of the textile maker's stock worth $42,000 after purchasing an additional 745 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Gildan Activewear in the fourth quarter worth $3,744,000. HighTower Advisors LLC boosted its position in shares of Gildan Activewear by 34.7% in the fourth quarter. HighTower Advisors LLC now owns 13,116 shares of the textile maker's stock worth $617,000 after buying an additional 3,376 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Gildan Activewear by 185.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,454 shares of the textile maker's stock worth $115,000 after acquiring an additional 1,594 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of Gildan Activewear by 8.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 29,646 shares of the textile maker's stock worth $1,395,000 after acquiring an additional 2,361 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gildan Activewear Stock Performance

Shares of GIL traded down $0.60 during mid-day trading on Friday, hitting $52.56. 152,646 shares of the company's stock were exchanged, compared to its average volume of 631,691. Gildan Activewear, Inc. has a 52 week low of $37.16 and a 52 week high of $55.39. The stock's 50-day simple moving average is $48.86 and its 200-day simple moving average is $47.91. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. The company has a quick ratio of 1.59, a current ratio of 3.91 and a debt-to-equity ratio of 1.35.

Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last announced its earnings results on Tuesday, April 29th. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Gildan Activewear had a net margin of 12.38% and a return on equity of 30.61%. The company had revenue of $711.70 million for the quarter, compared to analysts' expectations of $715.29 million. During the same period last year, the firm earned $0.59 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Gildan Activewear, Inc. will post 3.48 EPS for the current year.

Gildan Activewear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Tuesday, May 20th were paid a $0.226 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.90 dividend on an annualized basis and a yield of 1.72%. Gildan Activewear's dividend payout ratio (DPR) is 34.75%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GIL. TD Securities raised their price target on Gildan Activewear from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Scotiabank raised Gildan Activewear to a "strong-buy" rating and set a $55.00 price objective on the stock in a report on Wednesday, May 28th. CIBC cut their target price on shares of Gildan Activewear from $60.00 to $56.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Barclays began coverage on shares of Gildan Activewear in a research report on Monday, April 28th. They set an "overweight" rating and a $51.00 target price for the company. Nine research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $57.91.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.