Lazard Asset Management LLC Has $951,000 Stock Position in Rocky Brands, Inc. $RCKY

Lazard Asset Management LLC lowered its stake in Rocky Brands, Inc. (NASDAQ:RCKY) by 37.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,567 shares of the textile maker’s stock after selling 14,582 shares during the quarter. Lazard Asset Management LLC owned about 0.33% of Rocky Brands worth $951,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new stake in shares of Rocky Brands during the fourth quarter worth $35,000. Strs Ohio bought a new stake in Rocky Brands in the 1st quarter valued at $92,000. BNP Paribas Financial Markets lifted its position in Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after acquiring an additional 2,903 shares in the last quarter. SG Americas Securities LLC acquired a new position in Rocky Brands in the 1st quarter worth $149,000. Finally, Deutsche Bank AG boosted its stake in Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after purchasing an additional 464 shares during the period. Institutional investors and hedge funds own 75.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on RCKY shares. BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rocky Brands in a research report on Tuesday, May 26th. Robert W. Baird increased their price objective on Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Rocky Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.00.

Rocky Brands Stock Performance

Shares of RCKY opened at $49.95 on Thursday. Rocky Brands, Inc. has a 12 month low of $25.76 and a 12 month high of $53.01. The firm has a fifty day simple moving average of $41.22 and a 200 day simple moving average of $39.14. The stock has a market capitalization of $376.62 million, a price-to-earnings ratio of 13.08 and a beta of 2.36. The company has a current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $1.55. Rocky Brands had a net margin of 5.72% and a return on equity of 12.44%. The business had revenue of $118.37 million during the quarter, compared to the consensus estimate of $110.08 million.

Rocky Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.17 dividend. This is an increase from Rocky Brands’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 1st. Rocky Brands’s dividend payout ratio (DPR) is presently 17.80%.

Insider Buying and Selling

In related news, insider Curtis A. Loveland sold 3,483 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $50.54, for a total transaction of $176,030.82. Following the sale, the insider owned 92,610 shares in the company, valued at approximately $4,680,509.40. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director G Courtney Haning sold 3,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $49.06, for a total value of $147,180.00. Following the transaction, the director directly owned 19,750 shares of the company’s stock, valued at $968,935. This trade represents a 13.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 15,483 shares of company stock worth $763,214. Insiders own 7.60% of the company’s stock.

Rocky Brands 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.