LSV Asset Management Increases Stake in Rocky Brands, Inc. (NASDAQ:RCKY)

LSV Asset Management grew its stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 7.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,061 shares of the textile maker’s stock after buying an additional 2,500 shares during the period. LSV Asset Management owned 0.48% of Rocky Brands worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of RCKY. Raymond James Financial Inc. purchased a new stake in Rocky Brands in the 4th quarter worth $9,643,000. American Century Companies Inc. lifted its position in shares of Rocky Brands by 13.7% in the fourth quarter. American Century Companies Inc. now owns 213,991 shares of the textile maker’s stock worth $4,879,000 after buying an additional 25,806 shares in the last quarter. Geode Capital Management LLC boosted its stake in Rocky Brands by 4.6% during the third quarter. Geode Capital Management LLC now owns 168,315 shares of the textile maker’s stock valued at $5,364,000 after buying an additional 7,353 shares during the last quarter. State Street Corp grew its holdings in Rocky Brands by 0.4% during the 3rd quarter. State Street Corp now owns 134,249 shares of the textile maker’s stock valued at $4,277,000 after buying an additional 586 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in Rocky Brands by 0.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 113,958 shares of the textile maker’s stock worth $2,598,000 after acquiring an additional 507 shares during the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Trading Down 2.1 %

RCKY opened at $12.76 on Tuesday. The stock has a 50-day moving average of $19.14 and a 200 day moving average of $22.54. The company has a current ratio of 2.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. Rocky Brands, Inc. has a 12 month low of $12.59 and a 12 month high of $40.14. The firm has a market cap of $95.23 million, a P/E ratio of 7.17 and a beta of 2.25.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, February 25th. The textile maker reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). The company had revenue of $128.05 million for the quarter, compared to the consensus estimate of $125.44 million. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%.

Rocky Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.155 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.86%. Rocky Brands’s dividend payout ratio is presently 41.06%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, February 8th.

Rocky Brands Profile

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.