53,802 Shares in Rocky Brands, Inc. $RCKY Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 53,802 Rocky Brands shares worth approximately $2.22 million, representing about 0.72% of the company. Institutional investors collectively own 75.06% of RCKY.
• Rocky Brands reported strong quarterly results, with EPS of $1.90 versus the $0.35 analyst estimate and revenue of $118.37 million, above the $110.08 million consensus.
• The company declared a quarterly dividend of $0.17, equivalent to $0.68 annually and a 1.5% yield. Analysts rate the stock “Moderate Buy,” with an average price target of $56 compared with its $44.34 opening price.

Empowered Funds LLC acquired a new stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 53,802 shares of the textile maker's stock, valued at approximately $2,219,000. Empowered Funds LLC owned about 0.72% of Rocky Brands as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of RCKY. Legal & General Group Plc purchased a new stake in shares of Rocky Brands during the second quarter valued at approximately $29,000. Strs Ohio purchased a new position in Rocky Brands in the 1st quarter worth approximately $92,000. BNP Paribas Financial Markets raised its holdings 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 worth $109,000 after acquiring an additional 2,903 shares during the last quarter. SG Americas Securities LLC bought a new position in Rocky Brands in the 1st quarter valued at approximately $149,000. Finally, Deutsche Bank AG lifted its position in Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker's stock valued at $150,000 after acquiring an additional 464 shares in the last quarter. 75.06% of the stock is currently owned by institutional investors.

Rocky Brands Price Performance

Shares of RCKY opened at $44.34 on Thursday. The firm has a fifty day simple moving average of $44.11 and a two-hundred day simple moving average of $41.07. The firm has a market cap of $332.11 million, a PE 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 1-year low of $26.29 and a 1-year high of $53.01.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $1.55. Rocky Brands had a return on equity of 12.28% and a net margin of 5.72%.The firm had revenue of $118.37 million for the quarter, compared to the consensus estimate of $110.08 million.

Rocky Brands Dividend Announcement

The company 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. This represents a $0.68 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Rocky Brands's dividend payout ratio (DPR) is presently 17.80%.

Insider Transactions at Rocky Brands

In other Rocky Brands news, Director G Courtney Haning sold 3,000 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $49.06, for a total transaction of $147,180.00. Following the completion of the sale, the director directly owned 19,750 shares in the company, valued at $968,935. The trade was a 13.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tracie A. Winbigler sold 3,000 shares of the company's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $47.45, for a total transaction of $142,350.00. Following the sale, the director directly owned 14,246 shares of the company's stock, valued at $675,972.70. The trade was a 17.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 15,483 shares of company stock valued at $763,214. Company insiders own 7.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Robert W. Baird lifted their target price on Rocky Brands from $53.00 to $56.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Wall Street Zen raised Rocky Brands from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 9th. BTIG Research reaffirmed a "neutral" rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Rocky Brands from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Two equities 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, the company currently has an average rating of "Moderate Buy" and an average price target of $56.00.

Rocky Brands Company 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.

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