Hillsdale Investment Management Inc. Sells 21,700 Shares of Rocky Brands, Inc. $RCKY

Hillsdale Investment Management Inc. decreased its holdings in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 12.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 158,645 shares of the textile maker’s stock after selling 21,700 shares during the period. Hillsdale Investment Management Inc.’s holdings in Rocky Brands were worth $6,143,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Deutsche Bank AG grew its holdings in shares of Rocky Brands by 10.0% during the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after buying an additional 464 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Rocky Brands by 5.4% in the 4th quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock worth $342,000 after acquiring an additional 598 shares during the last quarter. First Trust Advisors LP lifted its position in Rocky Brands by 2.8% in the 4th quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock valued at $695,000 after acquiring an additional 655 shares in the last quarter. Invesco Ltd. lifted its position in Rocky Brands by 5.4% in the 4th quarter. Invesco Ltd. now owns 15,262 shares of the textile maker’s stock valued at $448,000 after acquiring an additional 781 shares in the last quarter. Finally, Aristides Capital LLC boosted its stake in Rocky Brands by 3.3% during the 4th quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker’s stock valued at $907,000 after purchasing an additional 979 shares during the last quarter. 75.06% of the stock is owned by institutional investors.

Rocky Brands Stock Performance

Shares of RCKY stock opened at $39.77 on Wednesday. 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 firm has a 50-day moving average of $38.33 and a 200-day moving average of $37.55. Rocky Brands, Inc. has a one year low of $22.34 and a one year high of $48.70. The company has a market cap of $299.87 million, a P/E ratio of 16.10 and a beta of 2.37.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings results on Tuesday, April 28th. The textile maker reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). Rocky Brands had a return on equity of 8.43% and a net margin of 3.78%.The firm had revenue of $124.40 million for the quarter, compared to analysts’ expectations of $122.42 million.

Rocky Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. This is an increase from Rocky Brands’s previous quarterly dividend of $0.15. Rocky Brands’s payout ratio is 27.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RCKY. Wall Street Zen lowered Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Rocky Brands in a report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Rocky Brands has an average rating of “Hold” and a consensus target price of $42.00.

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.