Bank of Montreal Can bought a new position in shares of Rocky Brands Inc (NASDAQ:RCKY) during the second quarter, Holdings Channel reports. The fund bought 5,195 shares of the textile maker’s stock, valued at approximately $155,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. ClariVest Asset Management LLC grew its stake in shares of Rocky Brands by 12.6% during the first quarter. ClariVest Asset Management LLC now owns 64,242 shares of the textile maker’s stock worth $1,378,000 after buying an additional 7,173 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Rocky Brands by 35.9% in the fourth quarter. Deutsche Bank AG now owns 61,585 shares of the textile maker’s stock worth $1,163,000 after purchasing an additional 16,285 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Rocky Brands by 8.3% in the first quarter. California Public Employees Retirement System now owns 53,373 shares of the textile maker’s stock worth $1,145,000 after purchasing an additional 4,076 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Rocky Brands in the first quarter worth $501,000. Finally, Millennium Management LLC bought a new stake in shares of Rocky Brands in the first quarter worth $384,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on RCKY. ValuEngine cut shares of Rocky Brands from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective on the stock in a research note on Friday, August 3rd.
Shares of Rocky Brands stock opened at $29.70 on Thursday. Rocky Brands Inc has a twelve month low of $12.80 and a twelve month high of $33.45. The firm has a market capitalization of $226.06 million, a P/E ratio of 25.60 and a beta of 0.17.
Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, July 31st. The textile maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.14. Rocky Brands had a net margin of 4.99% and a return on equity of 8.12%. The company had revenue of $58.21 million for the quarter, compared to analysts’ expectations of $55.40 million. analysts forecast that Rocky Brands Inc will post 1.7 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.62%. Rocky Brands’s dividend payout ratio is 41.38%.
In related news, Chairman Mike Brooks sold 1,300 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $30.61, for a total value of $39,793.00. Following the transaction, the chairman now owns 310,172 shares in the company, valued at $9,494,364.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James L. Stewart sold 1,332 shares of the business’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $28.84, for a total transaction of $38,414.88. Following the completion of the transaction, the director now owns 24,657 shares in the company, valued at approximately $711,107.88. The disclosure for this sale can be found here. In the last three months, insiders sold 33,620 shares of company stock worth $993,961. 9.40% of the stock is currently owned by insiders.
Rocky Brands Company Profile
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.
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