Rocky Brands, Inc. (NASDAQ:RCKY) Stock Position Raised by Yarger Wealth Strategies LLC

Yarger Wealth Strategies LLC raised its position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 8.2% in the first quarter, Holdings Channel reports. The firm owned 11,767 shares of the textile maker’s stock after buying an additional 894 shares during the period. Yarger Wealth Strategies LLC’s holdings in Rocky Brands were worth $204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RCKY. Empowered Funds LLC raised its stake in shares of Rocky Brands by 4.8% during the 4th quarter. Empowered Funds LLC now owns 32,467 shares of the textile maker’s stock worth $740,000 after purchasing an additional 1,473 shares in the last quarter. Waterfront Wealth Inc. bought a new position in shares of Rocky Brands in the 4th quarter valued at approximately $431,000. Bank of New York Mellon Corp raised its stake in shares of Rocky Brands by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 76,195 shares of the textile maker’s stock valued at $1,737,000 after acquiring an additional 10,584 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Rocky Brands by 9.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 9,228 shares of the textile maker’s stock valued at $210,000 after acquiring an additional 820 shares in the last quarter. Finally, Bailard Inc. bought a new position in shares of Rocky Brands in the 4th quarter valued at approximately $277,000. 75.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Robert W. Baird raised their price objective on Rocky Brands from $16.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Wall Street Zen downgraded Rocky Brands from a “buy” rating to a “hold” rating in a research note on Monday, May 12th.

Rocky Brands Stock Performance

RCKY opened at $22.50 on Thursday. The firm has a market capitalization of $167.87 million, a P/E ratio of 12.64 and a beta of 2.37. The stock’s 50 day moving average price is $18.30 and its two-hundred day moving average price is $20.66. 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 12-month low of $11.93 and a 12-month high of $38.31.

Rocky Brands (NASDAQ:RCKY) last released 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 firm had revenue of $114.07 million for the quarter, compared to analyst estimates of $112.67 million. Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%.

Rocky Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Monday, June 2nd. Rocky Brands’s dividend payout ratio (DPR) is currently 33.88%.

About Rocky Brands

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.