Great Lakes Advisors LLC Decreases Stake in Columbia Sportswear (NASDAQ:COLM)
Great Lakes Advisors LLC cut its position in shares of Columbia Sportswear (NASDAQ:COLM) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,377 shares of the textile maker’s stock after selling 5,834 shares during the period. Great Lakes Advisors LLC owned approximately 0.19% of Columbia Sportswear worth $10,955,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC bought a new position in shares of Columbia Sportswear during the 3rd quarter valued at approximately $25,000. Heritage Wealth Advisors bought a new stake in shares of Columbia Sportswear in the 4th quarter worth about $26,000. Whittier Trust Co. purchased a new stake in shares of Columbia Sportswear during the 3rd quarter valued at about $38,000. CENTRAL TRUST Co lifted its holdings in shares of Columbia Sportswear by 168.5% in the 3rd quarter. CENTRAL TRUST Co now owns 945 shares of the textile maker’s stock valued at $82,000 after acquiring an additional 593 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Columbia Sportswear in the fourth quarter worth about $97,000. Institutional investors and hedge funds own 40.64% of the company’s stock.
In related news, Director Walter Klenz sold 7,706 shares of Columbia Sportswear stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $102.28, for a total transaction of $788,169.68. Following the transaction, the director now directly owns 8,821 shares of the company’s stock, valued at $902,211.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Franco Fogliato sold 8,113 shares of the business’s stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $103.00, for a total transaction of $835,639.00. Insiders have sold a total of 328,650 shares of company stock worth $32,707,180 in the last three months. Corporate insiders own 41.15% of the company’s stock.
Shares of COLM stock opened at $103.66 on Tuesday. The company has a market capitalization of $6.86 billion, a P/E ratio of 56.34, a P/E/G ratio of 8.42 and a beta of 0.72. The company’s 50-day simple moving average is $94.75 and its two-hundred day simple moving average is $88.48. Columbia Sportswear has a one year low of $51.82 and a one year high of $112.21.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, February 4th. The textile maker reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.23. Columbia Sportswear had a return on equity of 7.30% and a net margin of 4.97%. As a group, analysts expect that Columbia Sportswear will post 1.39 earnings per share for the current fiscal year.
Columbia Sportswear announced that its Board of Directors has authorized a share repurchase program on Thursday, February 4th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the textile maker to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 22nd. Shareholders of record on Tuesday, March 9th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, March 8th.
About Columbia Sportswear
Columbia Sportswear Company, together with its subsidiaries, designs, sources, 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 that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel.
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