Raymond James Financial Services Advisors Inc. Takes Position in Rocky Brands, Inc. (NASDAQ:RCKY)

Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 7,777 shares of the textile maker’s stock, valued at approximately $235,000. Raymond James Financial Services Advisors Inc. owned 0.11% of Rocky Brands as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in RCKY. SG Americas Securities LLC bought a new stake in shares of Rocky Brands during the fourth quarter valued at about $118,000. Denali Advisors LLC grew its stake in Rocky Brands by 92.0% during the third quarter. Denali Advisors LLC now owns 16,700 shares of the textile maker’s stock valued at $245,000 after acquiring an additional 8,000 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Rocky Brands during the 3rd quarter worth approximately $261,000. Manatuck Hill Partners LLC bought a new position in Rocky Brands in the 3rd quarter valued at $588,000. Finally, Diamond Hill Capital Management Inc. boosted its holdings in Rocky Brands by 10.8% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 171,203 shares of the textile maker’s stock valued at $2,517,000 after purchasing an additional 16,727 shares during the period. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Price Performance

RCKY stock opened at $26.56 on Wednesday. The firm has a 50 day simple moving average of $27.03 and a two-hundred day simple moving average of $25.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.61 and a quick ratio of 1.24. The stock has a market cap of $197.08 million, a PE ratio of 18.70 and a beta of 1.97. Rocky Brands, Inc. has a one year low of $11.77 and a one year high of $32.38.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Wednesday, February 28th. The textile maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. Rocky Brands had a return on equity of 6.70% and a net margin of 2.26%. The business had revenue of $125.95 million for the quarter, compared to analysts’ expectations of $128.90 million. On average, analysts predict that Rocky Brands, Inc. will post 1.96 EPS for the current fiscal year.

Rocky Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a $0.155 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.62 dividend on an annualized basis and a yield of 2.33%. Rocky Brands’s payout ratio is 43.66%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Rocky Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, April 17th. B. Riley raised their price target on Rocky Brands from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.