Trexquant Investment LP Makes New $229,000 Investment in Rocky Brands, Inc. $RCKY

Key Points

• Trexquant Investment LP acquired 13,156 shares of Rocky Brands, Inc. valued at approximately $229,000, representing 0.18% ownership of the company by the end of the first quarter.
• Multiple institutional investors, including GAMMA Investing LLC and Bank of America Corp, have significantly increased their stakes in Rocky Brands, indicating strong interest and confidence in the company's performance.
• Rocky Brands recently announced a quarterly dividend of $0.155 per share with a yield of 2.1%, alongside a strong "Strong Buy" rating from several equities analysts, improving its target price to $40.00.

Trexquant Investment LP bought a new position in Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,156 shares of the textile maker's stock, valued at approximately $229,000. Trexquant Investment LP owned about 0.18% of Rocky Brands as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Two Sigma Investments LP increased its position in shares of Rocky Brands by 3.6% during the 4th quarter. Two Sigma Investments LP now owns 13,088 shares of the textile maker's stock valued at $298,000 after purchasing an additional 459 shares during the last quarter. Northern Trust Corp increased its position 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 valued at $1,778,000 after purchasing an additional 618 shares during the last quarter. Yarger Wealth Strategies LLC increased its position 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 purchasing an additional 894 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rocky Brands by 8.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,138 shares of the textile maker's stock valued at $367,000 after purchasing an additional 1,563 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Rocky Brands by 13.9% during the 4th quarter. Nuveen Asset Management LLC now owns 19,862 shares of the textile maker's stock valued at $453,000 after purchasing an additional 2,431 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael L. Finn sold 5,000 shares of the stock in a transaction dated 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 in the company, valued at $933,373.35. This represents a 13.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director G Courtney Haning sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $31.00, for a total value of $155,000.00. Following the completion of the sale, the director owned 19,482 shares of the company's stock, valued at approximately $603,942. This trade represents a 20.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,000 shares of company stock valued at $754,400. 5.10% of the stock is owned by insiders.

Rocky Brands Trading Up 2.9%

RCKY stock traded up $0.83 during trading on Monday, hitting $29.68. 53,677 shares of the company traded hands, compared to its average volume of 54,602. The firm has a market capitalization of $221.71 million, a PE ratio of 11.97 and a beta of 2.41. Rocky Brands, Inc. has a 1 year low of $11.93 and a 1 year high of $33.04. The company has a 50-day moving average of $26.60 and a 200-day moving average of $21.66. 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 issued its earnings results on Tuesday, July 29th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.31. The company had revenue of $105.65 million during the quarter, compared to analysts' expectations of $102.54 million. Rocky Brands had a return on equity of 10.41% and a net margin of 4.03%.

Rocky Brands Dividend Announcement

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

Wall Street Analysts Forecast Growth

RCKY has been the topic of several recent research reports. Baird R W upgraded Rocky Brands from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Robert W. Baird upgraded Rocky Brands from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $30.00 to $40.00 in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, Rocky Brands presently has an average rating of "Strong Buy" and a consensus target price of $40.00.

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.