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

Lazard Asset Management LLC lessened its holdings in shares of Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) by 85.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,089 shares of the textile maker's stock after selling 12,167 shares during the quarter. 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 bought and sold shares of the business. Waterfront Wealth Inc. bought a new position in Rocky Brands during the 4th quarter worth approximately $431,000. JPMorgan Chase & Co. lifted its holdings in Rocky Brands by 133.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,182 shares of the textile maker's stock worth $261,000 after buying an additional 4,683 shares during the last quarter. Raymond James Financial Inc. bought a new position in Rocky Brands during the 4th quarter worth approximately $9,643,000. American Century Companies Inc. lifted its holdings in Rocky Brands by 13.7% during the 4th quarter. American Century Companies Inc. now owns 213,991 shares of the textile maker's stock worth $4,879,000 after buying an additional 25,806 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Rocky Brands by 31.2% during the 4th quarter. Marshall Wace LLP now owns 29,923 shares of the textile maker's stock worth $682,000 after buying an additional 7,115 shares during the last quarter. Institutional investors and hedge funds own 75.06% of the company's stock.

Rocky Brands Stock Performance

Shares of NASDAQ RCKY traded up $0.22 during mid-day trading on Wednesday, hitting $22.69. The company had a trading volume of 120,678 shares, compared to its average volume of 52,325. The stock has a market cap of $169.29 million, a price-to-earnings ratio of 12.75 and a beta of 2.36. Rocky Brands, Inc. has a 12 month low of $11.93 and a 12 month high of $39.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.79 and a quick ratio of 0.93. The firm's 50 day simple moving average is $17.11 and its two-hundred day simple moving average is $20.53.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.73 earnings per share (EPS) for the quarter, topping 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 business had revenue of $114.07 million for the quarter, compared to the consensus estimate of $112.67 million.

Rocky Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 2.73%. The ex-dividend date is Monday, June 2nd. Rocky Brands's dividend payout ratio is currently 33.88%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RCKY shares. Wall Street Zen downgraded Rocky Brands from a "buy" rating to a "hold" rating in a report on Monday, May 12th. Robert W. Baird raised their price target on Rocky Brands from $16.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th.

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.