Koss Olinger Consulting LLC Purchases Shares of 27,392 Rocky Brands, Inc. (NASDAQ:RCKY)

Key Points

• Koss Olinger Consulting LLC has acquired 27,392 shares of Rocky Brands, Inc. valued at approximately $476,000, representing about 0.37% ownership of the company.
• Rocky Brands recently reported quarterly earnings of $0.55 per share, significantly surpassing analyst estimates of $0.24, with revenue reaching $105.65 million.
• The company announced a quarterly dividend of $0.155 per share, resulting in a 2.3% annualized yield and a dividend payout ratio of 25.00%.

Koss Olinger Consulting LLC purchased a new stake in Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,392 shares of the textile maker's stock, valued at approximately $476,000. Koss Olinger Consulting LLC owned 0.37% of Rocky Brands at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in shares of Rocky Brands by 20,076.9% in the first quarter. GAMMA Investing LLC now owns 5,246 shares of the textile maker's stock valued at $91,000 after buying an additional 5,220 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Rocky Brands by 31.2% in the fourth quarter. Wells Fargo & Company MN now owns 4,236 shares of the textile maker's stock valued at $97,000 after buying an additional 1,007 shares in the last quarter. Bank of America Corp DE increased its position in shares of Rocky Brands by 51.8% during the fourth quarter. Bank of America Corp DE now owns 8,863 shares of the textile maker's stock worth $202,000 after purchasing an additional 3,025 shares in the last quarter. Yarger Wealth Strategies LLC increased its position in shares of Rocky Brands by 8.2% during the first quarter. Yarger Wealth Strategies LLC now owns 11,767 shares of the textile maker's stock worth $204,000 after purchasing an additional 894 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Rocky Brands by 43.9% during the fourth quarter. Voya Investment Management LLC now owns 10,125 shares of the textile maker's stock worth $231,000 after purchasing an additional 3,091 shares in the last quarter. 75.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on RCKY shares. Robert W. Baird boosted their price target on Rocky Brands from $20.00 to $30.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Wall Street Zen cut Rocky Brands from a "buy" rating to a "hold" rating in a research report on Monday, May 12th.

Rocky Brands Price Performance

Shares of RCKY traded up $0.74 during trading hours on Tuesday, hitting $26.55. 84,416 shares of the stock were exchanged, compared to its average volume of 64,679. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.79 and a current ratio of 2.76. Rocky Brands, Inc. has a 12-month low of $11.93 and a 12-month high of $33.04. The company has a market cap of $198.33 million, a price-to-earnings ratio of 10.71 and a beta of 2.35. The stock's 50-day moving average price is $23.59 and its two-hundred day moving average price is $20.87.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last posted its earnings results on Tuesday, July 29th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.31. The company had revenue of $105.65 million for the quarter, compared to analyst estimates of $102.54 million. Rocky Brands had a net margin of 4.03% and a return on equity of 10.41%.

Rocky Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.155 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.3%. Rocky Brands's dividend payout ratio is currently 25.00%.

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.