LSV Asset Management Raises Holdings in Rocky Brands, Inc. $RCKY

LSV Asset Management boosted its holdings in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 160.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,365 shares of the textile maker’s stock after buying an additional 90,103 shares during the quarter. LSV Asset Management owned approximately 1.95% of Rocky Brands worth $4,293,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Rocky Brands in the fourth quarter worth $35,000. Strs Ohio purchased a new position in Rocky Brands in the first quarter worth $92,000. BNP Paribas Financial Markets grew its holdings in Rocky Brands by 391.2% in the third quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after purchasing an additional 2,903 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Rocky Brands in the second quarter worth $155,000. Finally, Metis Global Partners LLC purchased a new position in Rocky Brands in the third quarter worth $208,000. 75.06% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Trading Up 3.2%

RCKY stock opened at $36.91 on Wednesday. The company’s 50-day simple moving average is $39.04 and its 200-day simple moving average is $35.17. The company has a quick ratio of 1.02, a current ratio of 2.90 and a debt-to-equity ratio of 0.45. Rocky Brands, Inc. has a 52-week low of $20.52 and a 52-week high of $48.70. The firm has a market cap of $278.34 million, a P/E ratio of 14.94 and a beta of 2.39.

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 company had revenue of $124.40 million for the quarter, compared to analyst estimates of $122.42 million.

Rocky Brands Increases Dividend

The business also recently declared 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 is a boost from Rocky Brands’s previous quarterly dividend of $0.16. The ex-dividend date is Monday, June 1st. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. Rocky Brands’s payout ratio is currently 27.53%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RCKY. Wall Street Zen lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings lowered shares of Rocky Brands from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.