Rocky Brands (NASDAQ:RCKY) Stock Passes Above 200-Day Moving Average - Should You Sell?

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.65 and traded as high as $23.87. Rocky Brands shares last traded at $23.07, with a volume of 50,848 shares traded.

Analyst Upgrades and Downgrades

RCKY has been the subject of several recent analyst reports. Wall Street Zen cut 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 objective 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 Stock Down 2.3%

The company's 50-day moving average is $22.31 and its 200 day moving average is $20.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.85 and a current ratio of 2.64. The company has a market capitalization of $171.30 million, a PE ratio of 12.55 and a beta of 2.34.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last released its earnings results on Tuesday, April 29th. The textile maker reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.21. Rocky Brands had a net margin of 3.03% and a return on equity of 9.34%. The company had revenue of $114.07 million for the quarter, compared to analysts' expectations of $112.67 million.

Rocky Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Monday, June 2nd. Rocky Brands's payout ratio is currently 33.88%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC boosted its stake in Rocky Brands by 185.9% during the fourth quarter. Millennium Management LLC now owns 30,913 shares of the textile maker's stock worth $705,000 after buying an additional 20,100 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in Rocky Brands by 125.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 29,412 shares of the textile maker's stock worth $671,000 after purchasing an additional 16,371 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Rocky Brands during the fourth quarter valued at about $9,643,000. Nuveen Asset Management LLC increased its holdings in shares of Rocky Brands by 13.9% during the fourth quarter. Nuveen Asset Management LLC now owns 19,862 shares of the textile maker's stock valued at $453,000 after acquiring an additional 2,431 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Rocky Brands by 180.3% during the fourth quarter. JPMorgan Chase & Co. now owns 22,931 shares of the textile maker's stock valued at $523,000 after acquiring an additional 14,749 shares in the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

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.