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

Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC increased its position in Rocky Brands by 185.9% during the fourth quarter. Millennium Management LLC now owns 30,913 shares of the textile maker's stock valued at $705,000 after acquiring an additional 20,100 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Rocky Brands during the first quarter valued at about $606,000. D. E. Shaw & Co. Inc. grew its holdings in Rocky Brands by 125.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 29,412 shares of the textile maker's stock valued at $671,000 after purchasing an additional 16,371 shares during the period. Diamond Hill Capital Management Inc. grew its holdings 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 valued at $2,372,000 after purchasing an additional 22,596 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Rocky Brands by 13.9% during the fourth quarter. Nuveen Asset Management LLC now owns 19,862 shares of the textile maker's stock valued at $453,000 after purchasing an additional 2,431 shares during the period. Hedge funds and other institutional investors own 75.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RCKY. Wall Street Zen lowered Rocky Brands from a "buy" rating to a "hold" rating in a report on Monday, May 12th. Robert W. Baird boosted their price target on Rocky Brands from $20.00 to $30.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th.

Rocky Brands Price Performance

Rocky Brands stock traded down $0.95 during midday trading on Thursday, reaching $26.55. 16,490 shares of the stock traded hands, compared to its average volume of 61,944. The stock's fifty day moving average is $23.68 and its 200-day moving average is $20.91. Rocky Brands, Inc. has a 12 month low of $11.93 and a 12 month high of $33.04. The stock has a market cap of $198.35 million, a P/E ratio of 10.63 and a beta of 2.35. The company has a quick ratio of 0.79, a current ratio of 2.76 and a debt-to-equity ratio of 0.52.

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

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 $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, June 2nd. Rocky Brands's dividend payout ratio is presently 25.00%.

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.