Rocky Brands, Inc. (NASDAQ:RCKY) to Issue $0.16 Quarterly Dividend

Rocky Brands, Inc. (NASDAQ:RCKY) announced a quarterly dividend on Monday, May 19th, RTT News reports. Investors of record on Monday, June 2nd will be paid a dividend of 0.155 per share by the textile maker on Monday, June 16th. This represents a $0.62 dividend on an annualized basis and a yield of 3.02%.

Rocky Brands has raised its dividend by an average of 1.7% per year over the last three years. Rocky Brands has a dividend payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings.

Rocky Brands Stock Down 2.1%

Shares of RCKY traded down $0.44 during trading hours on Monday, hitting $20.54. 42,274 shares of the company were exchanged, compared to its average volume of 61,364. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79. The company has a market cap of $153.25 million, a PE ratio of 11.54 and a beta of 2.36. The firm’s 50 day moving average is $16.74 and its 200-day moving average is $20.52. Rocky Brands has a 52 week low of $11.93 and a 52 week high of $40.14.

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

Analyst Ratings Changes

Several brokerages recently weighed in 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 note on Wednesday, April 30th. StockNews.com lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Monday, May 12th.

Hedge Funds Weigh In On Rocky Brands

A hedge fund recently raised its stake in Rocky Brands stock. Empowered Funds LLC raised its stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 6.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,672 shares of the textile maker’s stock after purchasing an additional 2,205 shares during the quarter. Empowered Funds LLC owned 0.46% of Rocky Brands worth $602,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 75.06% of the company’s stock.

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.