Bridgeway Capital Management LLC Acquires 773 Shares of Rocky Brands, Inc. (NASDAQ:RCKY)

Bridgeway Capital Management LLC lifted its holdings in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 0.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,267 shares of the textile maker’s stock after buying an additional 773 shares during the period. Bridgeway Capital Management LLC’s holdings in Rocky Brands were worth $1,898,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of RCKY. Wells Fargo & Company MN increased its position in Rocky Brands by 31.2% during the 4th quarter. Wells Fargo & Company MN now owns 4,236 shares of the textile maker’s stock worth $97,000 after purchasing an additional 1,007 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Rocky Brands by 51.8% during the fourth quarter. Bank of America Corp DE now owns 8,863 shares of the textile maker’s stock worth $202,000 after buying an additional 3,025 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Rocky Brands by 9.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 9,228 shares of the textile maker’s stock worth $210,000 after buying an additional 820 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Rocky Brands by 43.9% in the 4th quarter. Voya Investment Management LLC now owns 10,125 shares of the textile maker’s stock valued at $231,000 after acquiring an additional 3,091 shares during the last quarter. Finally, Yarger Wealth Strategies LLC boosted its holdings in shares of Rocky Brands by 6.0% during the 4th quarter. Yarger Wealth Strategies LLC now owns 10,873 shares of the textile maker’s stock valued at $248,000 after acquiring an additional 614 shares in the last quarter. 75.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on RCKY. Robert W. Baird increased their target price on Rocky Brands from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. StockNews.com upgraded shares of Rocky Brands from a “hold” rating to a “buy” rating in a report on Friday, May 2nd.

Rocky Brands Stock Performance

NASDAQ RCKY opened at $20.42 on Friday. The company has a market capitalization of $152.35 million, a price-to-earnings ratio of 11.47 and a beta of 2.36. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62. Rocky Brands, Inc. has a twelve month low of $11.93 and a twelve month high of $40.14. The stock has a fifty day simple moving average of $16.55 and a 200 day simple moving average of $20.80.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.21. Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%. The company had revenue of $114.07 million during the quarter, compared to the consensus estimate of $112.67 million.

Rocky Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Monday, March 3rd. Rocky Brands’s dividend payout ratio is currently 33.88%.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.