Rocky Brands, Inc. (NASDAQ:RCKY) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its stake in Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) by 85.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,089 shares of the textile maker's stock after selling 12,167 shares during the period. Lazard Asset Management LLC's holdings in Rocky Brands were worth $47,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RCKY. Diamond Hill Capital Management Inc. boosted its stake in shares of Rocky Brands by 0.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 113,958 shares of the textile maker's stock worth $2,598,000 after buying an additional 507 shares during the last quarter. Northern Trust Corp raised its position in Rocky Brands by 0.8% in the 4th quarter. Northern Trust Corp now owns 77,994 shares of the textile maker's stock worth $1,778,000 after purchasing an additional 618 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of Rocky Brands by 0.9% in 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 during the period. Los Angeles Capital Management LLC increased its stake in shares of Rocky Brands by 9.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 9,228 shares of the textile maker's stock valued at $210,000 after buying an additional 820 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Rocky Brands by 31.2% during the 4th quarter. Wells Fargo & Company MN now owns 4,236 shares of the textile maker's stock valued at $97,000 after acquiring an additional 1,007 shares in the last quarter. 75.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Rocky Brands from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Robert W. Baird lifted their price objective on shares of Rocky Brands from $16.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th.

Rocky Brands Trading Down 0.9%

RCKY stock traded down $0.19 during trading on Friday, hitting $22.53. The company had a trading volume of 10,240 shares, compared to its average volume of 62,048. Rocky Brands, Inc. has a 52-week low of $11.93 and a 52-week high of $39.70. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $17.29 and a 200-day simple moving average of $20.55. The firm has a market capitalization of $168.07 million, a P/E ratio of 12.66 and a beta of 2.36.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last announced its earnings results on Tuesday, April 29th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.21. Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%. The company had revenue of $114.07 million for the quarter, compared to analyst estimates of $112.67 million.

Rocky Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.155 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.62 annualized dividend and a dividend yield of 2.75%. Rocky Brands's dividend payout ratio (DPR) is presently 33.88%.

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.