Rocky Brands, Inc. $RCKY Shares Purchased by LSV Asset Management

LSV Asset Management increased its stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 160.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 146,365 shares of the textile maker’s stock after purchasing an additional 90,103 shares during the period. LSV Asset Management’s holdings in Rocky Brands were worth $4,293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of RCKY. First Trust Advisors LP grew its stake in Rocky Brands by 4.2% during the 2nd quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock valued at $534,000 after acquiring an additional 963 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Rocky Brands during the 4th quarter valued at about $35,000. Crawford Investment Counsel Inc. grew its stake in Rocky Brands by 0.7% during the 3rd quarter. Crawford Investment Counsel Inc. now owns 182,142 shares of the textile maker’s stock valued at $5,426,000 after acquiring an additional 1,261 shares in the last quarter. Geode Capital Management LLC grew its stake in Rocky Brands by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock valued at $3,782,000 after acquiring an additional 1,303 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Rocky Brands by 6.8% during the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock valued at $602,000 after acquiring an additional 2,205 shares in the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.

Rocky Brands Stock Performance

Rocky Brands stock opened at $36.91 on Wednesday. The firm has a 50 day simple moving average of $39.04 and a 200-day simple moving average of $35.17. Rocky Brands, Inc. has a 1-year low of $20.52 and a 1-year high of $48.70. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.90 and a quick ratio of 1.02. The stock has a market cap of $278.34 million, a price-to-earnings ratio of 14.94 and a beta of 2.39.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data 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). The company had revenue of $124.40 million for the quarter, compared to analysts’ expectations of $122.42 million. Rocky Brands had a return on equity of 8.43% and a net margin of 3.78%.

Rocky Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. This is an increase from Rocky Brands’s previous quarterly dividend of $0.16. Rocky Brands’s dividend payout ratio is 27.53%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RCKY shares. Weiss Ratings cut shares of Rocky Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Wall Street Zen cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.00.

About Rocky Brands

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.