Waterfront Wealth Inc. Grows Position in Rocky Brands, Inc. $RCKY

Waterfront Wealth Inc. raised its position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 73.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,646 shares of the textile maker’s stock after buying an additional 13,873 shares during the quarter. Waterfront Wealth Inc.’s holdings in Rocky Brands were worth $724,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RCKY. Strs Ohio purchased a new position in shares of Rocky Brands in the 1st quarter worth approximately $92,000. Trexquant Investment LP purchased a new position in shares of Rocky Brands in the 1st quarter worth approximately $229,000. Voya Investment Management LLC boosted its holdings in shares of Rocky Brands by 46.2% in the 1st quarter. Voya Investment Management LLC now owns 14,801 shares of the textile maker’s stock worth $257,000 after purchasing an additional 4,676 shares during the period. Yarger Wealth Strategies LLC boosted its holdings in shares of Rocky Brands by 9.8% in the 2nd quarter. Yarger Wealth Strategies LLC now owns 12,917 shares of the textile maker’s stock worth $287,000 after purchasing an additional 1,150 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Rocky Brands in the 1st quarter worth approximately $345,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Price Performance

RCKY opened at $29.14 on Thursday. The business has a fifty day moving average of $29.07 and a 200 day moving average of $24.28. Rocky Brands, Inc. has a 52-week low of $11.93 and a 52-week high of $31.38. The company has a quick ratio of 0.79, a current ratio of 2.76 and a debt-to-equity ratio of 0.52. The stock has a market cap of $217.68 million, a P/E ratio of 10.64 and a beta of 2.44.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, October 28th. The textile maker reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $122.50 million during the quarter, compared to analyst estimates of $122.92 million. Rocky Brands had a return on equity of 11.15% and a net margin of 4.37%.

Rocky Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 2.1%. Rocky Brands’s payout ratio is 25.00%.

Analyst Ratings Changes

A number of brokerages have recently commented on RCKY. Weiss Ratings reiterated a “hold (c)” rating on shares of Rocky Brands in a report on Wednesday, October 8th. BTIG Research reiterated a “neutral” rating on shares of Rocky Brands in a report on Wednesday. Baird R W upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Robert W. Baird set a $42.00 price objective on Rocky Brands in a report on Wednesday. Finally, Citigroup restated a “neutral” rating on shares of Rocky Brands in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Transactions at Rocky Brands

In other Rocky Brands news, Director William L. Jordan sold 5,000 shares of Rocky Brands stock in a transaction on Friday, August 29th. The stock was sold at an average price of $30.10, for a total transaction of $150,500.00. Following the completion of the sale, the director directly owned 18,683 shares of the company’s stock, valued at $562,358.30. The trade was a 21.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tracie A. Winbigler sold 5,000 shares of Rocky Brands stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $29.95, for a total value of $149,750.00. Following the sale, the director directly owned 6,978 shares of the company’s stock, valued at approximately $208,991.10. This trade represents a 41.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 25,000 shares of company stock valued at $754,400. Company insiders own 5.10% of the company’s stock.

Rocky Brands 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.