North Star Investment Management Corp. decreased its position in Rocky Brands, Inc. (NASDAQ:RCKY – Free Report) by 18.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 154,175 shares of the textile maker’s stock after selling 35,950 shares during the period. North Star Investment Management Corp. owned about 2.05% of Rocky Brands worth $5,970,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. raised its holdings in Rocky Brands by 24.3% during the 2nd quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock valued at $12,371,000 after buying an additional 109,012 shares during the last quarter. LSV Asset Management increased its position in shares of Rocky Brands by 160.1% in the fourth quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock valued at $4,293,000 after acquiring an additional 90,103 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of Rocky Brands in the third quarter valued at about $1,240,000. Lazard Asset Management LLC bought a new position in shares of Rocky Brands during the fourth quarter valued at about $1,148,000. Finally, Bank of America Corp DE raised its stake in shares of Rocky Brands by 1,153.5% during the third quarter. Bank of America Corp DE now owns 41,803 shares of the textile maker’s stock valued at $1,245,000 after acquiring an additional 38,468 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on RCKY shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. Wall Street Zen lowered Rocky Brands from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $42.00.
Rocky Brands Price Performance
Shares of NASDAQ RCKY opened at $41.28 on Monday. The firm has a fifty day simple moving average of $38.65 and a two-hundred day simple moving average of $36.71. Rocky Brands, Inc. has a 12 month low of $21.74 and a 12 month high of $48.70. The company has a current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $311.29 million, a PE ratio of 16.71 and a beta of 2.38.
Rocky Brands (NASDAQ:RCKY – Get Free Report) last announced its earnings results on Tuesday, April 28th. The textile maker reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Rocky Brands had a net margin of 3.78% and a return on equity of 8.43%. The company had revenue of $124.40 million for the quarter, compared to the consensus estimate of $122.42 million.
Rocky Brands Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. This is a positive change from Rocky Brands’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, June 1st. Rocky Brands’s dividend payout ratio is currently 27.53%.
Rocky Brands Company Profile
Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.
Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.
Featured Articles
- Five stocks we like better than Rocky Brands
- As Stablecoins Keep Growing, These 2 Stocks Benefit
- Apple Just Handed These 4 Memory Stocks Their Best News of the Year
- Costco’s Secret Growth Engine May Be Running Out of Gas
- Why Alphabet’s Pullback May Be an Opportunity in Disguise
Receive News & Ratings for Rocky Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocky Brands and related companies with MarketBeat.com's FREE daily email newsletter.
