Nuveen LLC Takes $345,000 Position in Rocky Brands, Inc. $RCKY

Key Points

• Nuveen LLC acquired a new position in Rocky Brands, purchasing 19,862 shares valued at approximately $345,000, representing 0.27% of the company as of the latest SEC filing.
• Rocky Brands reported an earnings per share (EPS) of $0.55 for the quarter, significantly exceeding analysts' estimates of $0.24, with revenues of $105.65 million.
• The company announced a quarterly dividend of $0.155, reflecting a 2.1% yield, payable on September 16th to investors of record as of September 2nd.

Nuveen LLC purchased a new stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 19,862 shares of the textile maker's stock, valued at approximately $345,000. Nuveen LLC owned approximately 0.27% of Rocky Brands at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Rocky Brands by 20,076.9% during the 1st 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 lifted its stake in shares of 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 buying an additional 1,007 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Rocky Brands by 51.8% during the 4th quarter. Bank of America Corp DE now owns 8,863 shares of the textile maker's stock valued at $202,000 after buying an additional 3,025 shares in the last quarter. Yarger Wealth Strategies LLC lifted its stake in shares of Rocky Brands by 8.2% during the 1st quarter. Yarger Wealth Strategies LLC now owns 11,767 shares of the textile maker's stock valued at $204,000 after buying an additional 894 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of Rocky Brands by 43.9% during the 4th quarter. Voya Investment Management LLC now owns 10,125 shares of the textile maker's stock valued at $231,000 after buying an additional 3,091 shares in the last quarter. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Rocky Brands Price Performance

NASDAQ RCKY traded up $0.50 on Thursday, hitting $29.42. The stock had a trading volume of 30,290 shares, compared to its average volume of 55,967. Rocky Brands, Inc. has a 52-week low of $11.93 and a 52-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 company has a market capitalization of $219.77 million, a price-to-earnings ratio of 11.86 and a beta of 2.41. The firm has a 50-day moving average of $26.36 and a 200-day moving average of $21.55.

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 (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.31. Rocky Brands had a net margin of 4.03% and a return on equity of 10.41%. The business had revenue of $105.65 million for the quarter, compared to analysts' expectations of $102.54 million.

Rocky Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.62 annualized dividend and a dividend yield of 2.1%. Rocky Brands's dividend payout ratio (DPR) is 25.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RCKY shares. Baird R W upgraded shares of Rocky Brands from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Robert W. Baird upgraded shares of Rocky Brands from a "neutral" rating to an "outperform" rating and upped their price target for the company from $30.00 to $40.00 in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and a consensus target price of $40.00.

Insider Activity at Rocky Brands

In other news, Director William L. Jordan sold 5,000 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $30.10, for a total transaction of $150,500.00. Following the sale, the director owned 18,683 shares in the company, valued at approximately $562,358.30. This trade represents a 21.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director G Courtney Haning sold 5,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $31.00, for a total transaction of $155,000.00. Following the sale, the director owned 19,482 shares in the company, valued at approximately $603,942. This trade represents a 20.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,000 shares of company stock worth $754,400. Corporate insiders own 5.10% of the company's stock.

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.