Waterfront Wealth Inc. Purchases 13,873 Shares of Rocky Brands, Inc. $RCKY

Waterfront Wealth Inc. raised its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 73.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,646 shares of the textile maker’s stock after acquiring an additional 13,873 shares during the quarter. Waterfront Wealth Inc. owned approximately 0.44% of Rocky Brands worth $724,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Yarger Wealth Strategies LLC lifted its holdings in Rocky Brands by 9.8% in the second quarter. Yarger Wealth Strategies LLC now owns 12,917 shares of the textile maker’s stock valued at $287,000 after acquiring an additional 1,150 shares during the period. Voya Investment Management LLC lifted its holdings in Rocky Brands by 46.2% in the first quarter. Voya Investment Management LLC now owns 14,801 shares of the textile maker’s stock valued at $257,000 after acquiring an additional 4,676 shares during the period. Strs Ohio bought a new position in Rocky Brands in the first quarter valued at about $92,000. Empowered Funds LLC lifted its holdings in Rocky Brands by 6.8% in the first quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock valued at $602,000 after acquiring an additional 2,205 shares during the period. Finally, Trexquant Investment LP bought a new position in Rocky Brands in the first quarter valued at about $229,000. Institutional investors own 75.06% of the company’s stock.

Analysts Set New Price Targets

RCKY has been the topic of several recent research reports. Baird R W raised Rocky Brands from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Citigroup reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday. Robert W. Baird set a $42.00 price objective on Rocky Brands in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rocky Brands in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Rocky Brands Stock Down 2.6%

Shares of RCKY opened at $29.14 on Thursday. The business’s 50 day moving average is $29.07 and its 200 day moving average is $24.28. The company has a market capitalization of $217.68 million, a PE ratio of 10.64 and a beta of 2.44. Rocky Brands, Inc. has a 12-month low of $11.93 and a 12-month high of $31.38. The company has a current ratio of 2.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.52.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, October 28th. The textile maker reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. The company had revenue of $122.50 million for the quarter, compared to the consensus estimate of $122.92 million. Rocky Brands had a return on equity of 11.15% and a net margin of 4.37%.

Rocky Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. Rocky Brands’s dividend payout ratio (DPR) is 25.00%.

Insiders Place Their Bets

In other Rocky Brands news, Director G Courtney Haning sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $31.00, for a total transaction of $155,000.00. Following the completion of the transaction, the director owned 19,482 shares in the company, valued at $603,942. This trade represents a 20.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William L. Jordan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $30.10, for a total value of $150,500.00. Following the transaction, the director owned 18,683 shares of the company’s stock, valued at $562,358.30. This represents a 21.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 25,000 shares of company stock worth $754,400 over the last quarter. Company insiders own 5.10% of the company’s stock.

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.