American Century Companies Inc. Increases Holdings in Rocky Brands, Inc. $RCKY

Key Points

• American Century Companies Inc. increased its stake in Rocky Brands, Inc. by 10% in the first quarter, owning approximately 3.16% of the company, valued at $4.09 million after acquiring 21,420 shares.
• Rocky Brands recently announced a quarterly dividend of $0.155 per share, representing an annualized yield of 2.0% and a payout ratio of 25%.
• Analysts have varying ratings on Rocky Brands, with recent upgrades including a target price increase to $40.00 by Robert W. Baird, reflecting a consensus rating of "Strong Buy."

American Century Companies Inc. increased its stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) by 10.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 235,411 shares of the textile maker's stock after buying an additional 21,420 shares during the quarter. American Century Companies Inc. owned about 3.16% of Rocky Brands worth $4,089,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. North Star Investment Management Corp. lifted its position in Rocky Brands by 1.9% during the first quarter. North Star Investment Management Corp. now owns 218,625 shares of the textile maker's stock worth $3,798,000 after buying an additional 4,000 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in Rocky Brands by 19.8% during the first quarter. Diamond Hill Capital Management Inc. now owns 136,554 shares of the textile maker's stock worth $2,372,000 after buying an additional 22,596 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in Rocky Brands by 0.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 83,267 shares of the textile maker's stock worth $1,898,000 after buying an additional 773 shares in the last quarter. Northern Trust Corp raised its position in Rocky Brands by 0.8% in the fourth quarter. Northern Trust Corp now owns 77,994 shares of the textile maker's stock valued at $1,778,000 after purchasing an additional 618 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Rocky Brands in the first quarter valued at $606,000. Hedge funds and other institutional investors own 75.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RCKY shares. Baird R W upgraded Rocky Brands from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Wall Street Zen downgraded Rocky Brands from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Robert W. Baird upgraded Rocky Brands from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $30.00 to $40.00 in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Strong Buy" and an average target price of $40.00.

Rocky Brands Trading Up 2.4%

Shares of NASDAQ RCKY traded up $0.70 during trading on Thursday, reaching $29.88. The stock had a trading volume of 58,154 shares, compared to its average volume of 62,712. Rocky Brands, Inc. has a fifty-two week low of $11.93 and a fifty-two week high of $33.04. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.79 and a current ratio of 2.76. The business's 50-day moving average price is $25.74 and its 200-day moving average price is $21.35. The company has a market cap of $223.20 million, a P/E ratio of 12.05 and a beta of 2.41.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last released its earnings results on Tuesday, July 29th. The textile maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.24 by $0.31. Rocky Brands had a return on equity of 10.41% and a net margin of 4.03%.The firm had revenue of $105.65 million during the quarter, compared to analysts' expectations of $102.54 million.

Rocky Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be 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 is Tuesday, September 2nd. Rocky Brands's payout ratio is presently 25.00%.

Insider Buying and Selling at Rocky Brands

In related news, Director G Courtney Haning sold 5,000 shares of the business's stock in a transaction 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 directly owned 19,482 shares of the company's stock, valued at $603,942. The trade was a 20.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William L. Jordan sold 5,000 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $30.10, for a total value of $150,500.00. Following the transaction, the director directly owned 18,683 shares of the company's stock, valued at $562,358.30. The trade was a 21.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,000 shares of company stock valued at $456,000 over the last three months. 5.10% of the stock is currently owned by insiders.

Rocky Brands 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.