Rocky Brands, Inc. (NASDAQ:RCKY) to Issue Quarterly Dividend of $0.16

Rocky Brands, Inc. (NASDAQ:RCKY) announced a quarterly dividend on Monday, May 19th, RTT News reports. Investors of record on Monday, June 2nd will be given a dividend of 0.155 per share by the textile maker on Monday, June 16th. This represents a $0.62 annualized dividend and a dividend yield of 3.02%.

Rocky Brands has raised its dividend by an average of 1.7% annually over the last three years. Rocky Brands has a payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings.

Rocky Brands Stock Performance

Shares of RCKY traded down $0.44 during mid-day trading on Monday, reaching $20.54. 42,274 shares of the company’s stock traded hands, compared to its average volume of 61,364. Rocky Brands has a 12 month low of $11.93 and a 12 month high of $40.14. The stock has a market capitalization of $153.25 million, a P/E ratio of 11.54 and a beta of 2.36. The business’s 50-day moving average price is $16.74 and its 200-day moving average price is $20.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79.

Rocky Brands (NASDAQ:RCKY) last announced its earnings results on Tuesday, April 29th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.21. The firm had revenue of $114.07 million during the quarter, compared to analyst estimates of $112.67 million. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%.

Institutional Investors Weigh In On Rocky Brands

An institutional investor recently raised its position in Rocky Brands stock. Empowered Funds LLC raised its stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,672 shares of the textile maker’s stock after buying an additional 2,205 shares during the period. Empowered Funds LLC owned about 0.46% of Rocky Brands worth $602,000 as of its most recent SEC filing. Institutional investors own 75.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. Robert W. Baird upped their target price on Rocky Brands from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th.

Rocky Brands Company 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.