53,802 Shares in Rocky Brands, Inc. $RCKY Bought by Empowered Funds LLC

Empowered Funds LLC bought a new stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) during the 2nd quarter, Holdings Channel reports. The firm bought 53,802 shares of the textile maker’s stock, valued at approximately $2,219,000.

Other hedge funds have also bought and sold shares of the company. Legal & General Group Plc purchased a new stake in Rocky Brands in the second quarter worth about $29,000. BNP Paribas Financial Markets lifted its position in shares of Rocky Brands by 391.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after buying an additional 2,903 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Rocky Brands during the 1st quarter valued at about $149,000. Deutsche Bank AG grew its stake in shares of Rocky Brands by 10.0% during the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after acquiring an additional 464 shares during the period. Finally, Strs Ohio bought a new position in shares of Rocky Brands during the 1st quarter valued at approximately $92,000. Institutional investors own 75.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on RCKY. Robert W. Baird increased their target price on shares of Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 9th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Insider Activity at Rocky Brands

In other news, insider Curtis A. Loveland sold 3,483 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $50.54, for a total value of $176,030.82. Following the transaction, the insider owned 92,610 shares of the company’s stock, valued at approximately $4,680,509.40. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William L. Jordan sold 989 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $51.87, for a total transaction of $51,299.43. Following the transaction, the director owned 20,951 shares of the company’s stock, valued at approximately $1,086,728.37. This represents a 4.51% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 15,483 shares of company stock valued at $763,214. Corporate insiders own 7.60% of the company’s stock.

Rocky Brands Price Performance

Shares of Rocky Brands stock opened at $44.34 on Thursday. The company has a market capitalization of $332.11 million, a price-to-earnings ratio of 11.61 and a beta of 2.36. The company has a quick ratio of 1.12, a current ratio of 2.97 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $44.11 and its 200-day simple moving average is $41.07. Rocky Brands, Inc. has a 52 week low of $26.29 and a 52 week high of $53.01.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $1.55. The firm had revenue of $118.37 million during the quarter, compared to analysts’ expectations of $110.08 million. Rocky Brands had a return on equity of 12.28% and a net margin of 5.72%.

Rocky Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, September 1st. Rocky Brands’s dividend payout ratio is presently 17.80%.

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.