Allspring Global Investments Holdings LLC lessened its holdings in Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) by 24.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,900 shares of the textile maker's stock after selling 27,403 shares during the period. Allspring Global Investments Holdings LLC owned about 1.12% of Rocky Brands worth $1,457,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. North Star Investment Management Corp. grew its position in Rocky Brands by 1.9% in the first quarter. North Star Investment Management Corp. now owns 218,625 shares of the textile maker's stock valued at $3,798,000 after acquiring an additional 4,000 shares during the last quarter. Yarger Wealth Strategies LLC grew its position in Rocky Brands by 8.2% in the first quarter. Yarger Wealth Strategies LLC now owns 11,767 shares of the textile maker's stock valued at $204,000 after acquiring an additional 894 shares during the last quarter. GAMMA Investing LLC grew its position in Rocky Brands by 20,076.9% in the first quarter. GAMMA Investing LLC now owns 5,246 shares of the textile maker's stock valued at $91,000 after acquiring an additional 5,220 shares during the last quarter. Two Sigma Investments LP grew its position in Rocky Brands by 3.6% in the fourth quarter. Two Sigma Investments LP now owns 13,088 shares of the textile maker's stock valued at $298,000 after acquiring an additional 459 shares during the last quarter. Finally, Man Group plc grew its position in Rocky Brands by 54.0% in the fourth quarter. Man Group plc now owns 20,710 shares of the textile maker's stock valued at $472,000 after acquiring an additional 7,263 shares during the last quarter. Institutional investors own 75.06% of the company's stock.
Rocky Brands Trading Down 1.1%
Shares of RCKY stock traded down $0.27 during mid-day trading on Friday, reaching $24.09. 74,582 shares of the stock traded hands, compared to its average volume of 52,910. The stock's fifty day simple moving average is $21.84 and its two-hundred day simple moving average is $20.65. Rocky Brands, Inc. has a 1-year low of $11.93 and a 1-year high of $37.80. The company has a market cap of $179.71 million, a price-to-earnings ratio of 13.16 and a beta of 2.34. The company has a quick ratio of 0.85, a current ratio of 2.64 and a debt-to-equity ratio of 0.51.
Rocky Brands (NASDAQ:RCKY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.73 EPS 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 analyst estimates of $112.67 million. Rocky Brands had a return on equity of 9.34% and a net margin of 3.03%.
Rocky Brands Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.155 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.62 annualized dividend and a yield of 2.57%. Rocky Brands's payout ratio is 33.88%.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Wall Street Zen lowered Rocky Brands from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. Robert W. Baird lifted their price target on Rocky Brands from $16.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th.
Read Our Latest Stock Analysis on RCKY
About Rocky Brands
(
Free Report)
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.
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