Millennium Management LLC Buys 20,100 Shares of Rocky Brands, Inc. (NASDAQ:RCKY)

Millennium Management LLC raised its stake in Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) by 185.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,913 shares of the textile maker's stock after buying an additional 20,100 shares during the period. Millennium Management LLC owned about 0.41% of Rocky Brands worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in RCKY. Empowered Funds LLC raised its stake in shares of Rocky Brands by 4.8% during the 4th quarter. Empowered Funds LLC now owns 32,467 shares of the textile maker's stock worth $740,000 after acquiring an additional 1,473 shares in the last quarter. Waterfront Wealth Inc. acquired a new stake in shares of Rocky Brands in the fourth quarter worth $431,000. Bank of New York Mellon Corp increased its stake in shares of Rocky Brands by 16.1% in the fourth quarter. Bank of New York Mellon Corp now owns 76,195 shares of the textile maker's stock worth $1,737,000 after acquiring an additional 10,584 shares during the period. Los Angeles Capital Management LLC increased its holdings in Rocky Brands by 9.8% in 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 in the last quarter. Finally, Bailard Inc. purchased a new position in Rocky Brands in the fourth quarter valued at $277,000. 75.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Rocky Brands from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. Robert W. Baird boosted their price target on shares of Rocky Brands from $16.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th.

Rocky Brands Price Performance

NASDAQ:RCKY traded down $0.41 during mid-day trading on Wednesday, hitting $22.50. 65,397 shares of the company's stock traded hands, compared to its average volume of 53,080. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79. The firm's 50 day simple moving average is $18.30 and its 200 day simple moving average is $20.66. Rocky Brands, Inc. has a 1 year low of $11.93 and a 1 year high of $38.31. The company has a market cap of $167.87 million, a PE ratio of 12.64 and a beta of 2.37.

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 for the quarter, beating analysts' consensus estimates of $0.52 by $0.21. The firm had revenue of $114.07 million for the quarter, compared to analysts' expectations of $112.67 million. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%.

Rocky Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, June 2nd. Rocky Brands's dividend payout ratio (DPR) is 33.88%.

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.