Bank of New York Mellon Corp Boosts Holdings in Columbia Sportswear (NASDAQ:COLM)

Bank of New York Mellon Corp boosted its position in shares of Columbia Sportswear (NASDAQ:COLM) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 418,531 shares of the textile maker’s stock after acquiring an additional 43,654 shares during the period. Bank of New York Mellon Corp owned 0.73% of Columbia Sportswear worth $35,127,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Impact Partnership Wealth LLC purchased a new position in shares of Columbia Sportswear in the fourth quarter worth $240,000. Truist Financial Corp raised its holdings in shares of Columbia Sportswear by 143.6% in the fourth quarter. Truist Financial Corp now owns 11,907 shares of the textile maker’s stock worth $999,000 after buying an additional 7,019 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Columbia Sportswear in the fourth quarter worth $6,356,000. Impax Asset Management Group plc raised its holdings in shares of Columbia Sportswear by 79.2% in the third quarter. Impax Asset Management Group plc now owns 90,515 shares of the textile maker’s stock worth $7,530,000 after buying an additional 40,000 shares during the last quarter. Finally, MQS Management LLC purchased a new position in shares of Columbia Sportswear in the third quarter worth $499,000. Hedge funds and other institutional investors own 47.76% of the company’s stock.

Columbia Sportswear Price Performance

Shares of COLM stock opened at $84.26 on Friday. The firm’s 50-day moving average is $85.22 and its two-hundred day moving average is $83.89. Columbia Sportswear has a 12 month low of $73.04 and a 12 month high of $92.88. The company has a market capitalization of $4.66 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 2.54 and a beta of 0.90.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings results on Tuesday, February 4th. The textile maker reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.06). Columbia Sportswear had a net margin of 6.63% and a return on equity of 12.23%. Sell-side analysts forecast that Columbia Sportswear will post 4.1 EPS for the current year.

Columbia Sportswear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, March 10th. Columbia Sportswear’s dividend payout ratio (DPR) is currently 31.01%.

Insider Activity at Columbia Sportswear

In related news, EVP Richelle T. Luther sold 4,000 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $92.36, for a total value of $369,440.00. Following the transaction, the executive vice president now directly owns 14,283 shares of the company’s stock, valued at $1,319,177.88. This trade represents a 21.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronald E. Nelson sold 6,395 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.74, for a total transaction of $522,727.30. Following the sale, the director now owns 17,048 shares of the company’s stock, valued at approximately $1,393,503.52. This represents a 27.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 44.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Columbia Sportswear from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. TD Cowen increased their price objective on shares of Columbia Sportswear from $70.00 to $84.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Finally, StockNews.com lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th.

About Columbia Sportswear

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.