Strs Ohio lifted its stake in Rocky Brands Inc (NASDAQ:RCKY) by 25.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,326 shares of the textile maker’s stock after purchasing an additional 2,126 shares during the period. Strs Ohio owned 0.14% of Rocky Brands worth $292,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of RCKY. Russell Investments Group Ltd. acquired a new position in Rocky Brands during the first quarter worth $501,000. Millennium Management LLC acquired a new position in shares of Rocky Brands in the 1st quarter valued at $384,000. Bank of Montreal Can acquired a new position in shares of Rocky Brands in the 2nd quarter valued at $155,000. Acadian Asset Management LLC lifted its stake in shares of Rocky Brands by 4.0% in the 2nd quarter. Acadian Asset Management LLC now owns 294,097 shares of the textile maker’s stock valued at $8,823,000 after purchasing an additional 11,176 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new position in shares of Rocky Brands in the 2nd quarter valued at $129,000. 69.35% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Mike Brooks sold 5,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $30.25, for a total value of $151,250.00. Following the transaction, the chairman now owns 310,172 shares of the company’s stock, valued at approximately $9,382,703. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 6,300 shares of company stock worth $189,575. Corporate insiders own 9.40% of the company’s stock.
Shares of Rocky Brands stock opened at $26.50 on Wednesday. Rocky Brands Inc has a 52 week low of $15.00 and a 52 week high of $33.45. The firm has a market capitalization of $204.90 million, a PE ratio of 22.84 and a beta of 0.24.
Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Tuesday, October 23rd. The textile maker reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.11. Rocky Brands had a return on equity of 9.06% and a net margin of 6.08%. The business had revenue of $65.92 million for the quarter, compared to analyst estimates of $63.50 million. Sell-side analysts expect that Rocky Brands Inc will post 1.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, November 29th. Rocky Brands’s dividend payout ratio (DPR) is presently 41.38%.
Several equities analysts have recently commented on the company. Zacks Investment Research raised Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $37.00 price target on the stock in a research note on Friday, August 3rd. ValuEngine lowered Rocky Brands from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 28th.
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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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