BlackRock Inc. Takes $21.56 Million Position in Rocky Brands, Inc. $RCKY

BlackRock Inc. purchased a new stake in Rocky Brands, Inc. (NASDAQ:RCKY) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 522,760 shares of the textile maker’s stock, valued at approximately $21,559,000. BlackRock Inc. owned approximately 0.07% of Rocky Brands at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Rocky Brands in the 2nd quarter valued at $1,315,000. Sei Investments Co. bought a new stake in shares of Rocky Brands during the 1st quarter valued at $1,153,000. Aristides Capital LLC grew its holdings in shares of Rocky Brands by 264.6% during the 1st quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker’s stock worth $4,365,000 after purchasing an additional 81,822 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Rocky Brands by 39.1% during the 1st quarter. Renaissance Technologies LLC now owns 83,535 shares of the textile maker’s stock worth $3,234,000 after purchasing an additional 23,500 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of Rocky Brands by 160.1% in the fourth quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock worth $4,293,000 after purchasing an additional 90,103 shares during the period. Institutional investors and hedge funds own 75.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird boosted their price target on Rocky Brands from $53.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 9th. Finally, BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Rocky Brands currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Insider Activity at Rocky Brands

In other Rocky Brands news, insider Curtis A. Loveland sold 3,483 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were 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 of the company’s stock, valued at approximately $4,680,509.40. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William L. Jordan sold 989 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $51.87, for a total transaction of $51,299.43. Following the transaction, the director owned 20,951 shares of the company’s stock, valued at $1,086,728.37. This trade represents a 4.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 15,483 shares of company stock worth $763,214. Corporate insiders own 7.60% of the company’s stock.

Rocky Brands Stock Down 0.6%

RCKY stock opened at $44.34 on Thursday. The stock has a market capitalization of $332.11 million, a P/E ratio of 11.61 and a beta of 2.36. The company has a current ratio of 2.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43. Rocky Brands, Inc. has a 12 month low of $26.29 and a 12 month high of $53.01. The firm has a 50-day moving average price of $44.11 and a 200-day moving average price of $41.07.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly 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. The company had revenue of $118.37 million for the quarter, compared to the consensus estimate of $110.08 million. Rocky Brands had a net margin of 5.72% and a return on equity of 12.28%.

Rocky Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.17 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.68 dividend on an annualized basis and a yield of 1.5%. Rocky Brands’s dividend payout ratio (DPR) is currently 17.80%.

About Rocky Brands

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.