Russell Investments Group Ltd. Has $189,000 Position in Rocky Brands, Inc. $RCKY

Key Points

• Russell Investments Group Ltd. reduced its stake in Rocky Brands, Inc. by 70.5%, selling 26,064 shares and now holding only 10,885 shares worth approximately $189,000.
• Rocky Brands announced a quarterly dividend of $0.155 per share, representing an annualized dividend of $0.62 and a yield of 2.1%, payable on September 16th.
• Recent research reports show analysts have shifted ratings on Rocky Brands, with one analyst upgrading it to a "strong-buy" and raising the price target from $30.00 to $40.00.

Russell Investments Group Ltd. cut its holdings in shares of Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) by 70.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,885 shares of the textile maker's stock after selling 26,064 shares during the period. Russell Investments Group Ltd. owned 0.15% of Rocky Brands worth $189,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RCKY. Two Sigma Investments LP lifted its holdings in shares of Rocky Brands by 3.6% during the fourth quarter. Two Sigma Investments LP now owns 13,088 shares of the textile maker's stock worth $298,000 after purchasing an additional 459 shares during the period. Northern Trust Corp raised its stake in shares of Rocky Brands by 0.8% during the 4th quarter. Northern Trust Corp now owns 77,994 shares of the textile maker's stock worth $1,778,000 after buying an additional 618 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in shares of Rocky Brands by 0.9% during the 4th 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 last quarter. Yarger Wealth Strategies LLC raised 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 worth $204,000 after buying an additional 894 shares during the last quarter. Finally, Wells Fargo & Company MN increased 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 worth $97,000 after purchasing an additional 1,007 shares in the last quarter. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on RCKY. Baird R W upgraded Rocky Brands from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Wall Street Zen lowered Rocky Brands from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Robert W. Baird raised Rocky Brands from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $30.00 to $40.00 in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Strong Buy" and a consensus target price of $40.00.

Insider Buying and Selling

In other news, Director Michael L. Finn sold 5,000 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $29.73, for a total transaction of $148,650.00. Following the completion of the sale, the director directly owned 31,395 shares of the company's stock, valued at $933,373.35. This represents a 13.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tracie A. Winbigler sold 5,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $29.95, for a total value of $149,750.00. Following the transaction, the director directly owned 6,978 shares in the company, valued at $208,991.10. The trade was a 41.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,000 shares of company stock valued at $754,400. 5.10% of the stock is currently owned by company insiders.

Rocky Brands Stock Performance

Shares of NASDAQ:RCKY traded down $0.76 on Friday, hitting $29.12. The company's stock had a trading volume of 31,086 shares, compared to its average volume of 60,056. Rocky Brands, Inc. has a 12 month low of $11.93 and a 12 month high of $33.04. The company has a market capitalization of $217.53 million, a price-to-earnings ratio of 11.74 and a beta of 2.41. The stock's 50-day moving average is $25.87 and its two-hundred day moving average is $21.35. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.79 and a current ratio of 2.76.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last released its quarterly 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 return on equity of 10.41% and a net margin of 4.03%.The company had revenue of $105.65 million during the quarter, compared to analysts' expectations of $102.54 million.

Rocky Brands Dividend Announcement

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

Rocky Brands 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.