First Trust Advisors LP lifted its position in shares of Rocky Brands Inc (NASDAQ:RCKY) by 28.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,606 shares of the textile maker’s stock after purchasing an additional 3,423 shares during the period. First Trust Advisors LP owned about 0.21% of Rocky Brands worth $519,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in RCKY. Meritage Portfolio Management bought a new stake in shares of Rocky Brands during the third quarter worth about $220,000. Rhumbline Advisers boosted its holdings in Rocky Brands by 10.3% in the third quarter. Rhumbline Advisers now owns 10,675 shares of the textile maker’s stock valued at $355,000 after acquiring an additional 1,000 shares during the last quarter. Strs Ohio boosted its holdings in Rocky Brands by 7.8% in the second quarter. Strs Ohio now owns 13,900 shares of the textile maker’s stock valued at $379,000 after acquiring an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Rocky Brands by 5.4% in the second quarter. Russell Investments Group Ltd. now owns 22,303 shares of the textile maker’s stock valued at $599,000 after acquiring an additional 1,150 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in Rocky Brands by 37.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 18,520 shares of the textile maker’s stock valued at $615,000 after acquiring an additional 5,090 shares during the last quarter. Institutional investors own 75.45% of the company’s stock.
Separately, Zacks Investment Research upgraded Rocky Brands from a “sell” rating to a “hold” rating in a report on Wednesday.
Shares of RCKY stock opened at $27.38 on Thursday. The business’s 50 day simple moving average is $29.22 and its 200 day simple moving average is $28.84. Rocky Brands Inc has a one year low of $22.44 and a one year high of $34.14. The stock has a market capitalization of $201.93 million, a PE ratio of 14.56 and a beta of 0.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.64 and a quick ratio of 1.99.
Rocky Brands (NASDAQ:RCKY) last announced its earnings results on Wednesday, October 23rd. The textile maker reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.05. Rocky Brands had a return on equity of 9.86% and a net margin of 6.09%. The business had revenue of $67.18 million for the quarter, compared to analysts’ expectations of $68.20 million. As a group, research analysts expect that Rocky Brands Inc will post 2.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.05%. The ex-dividend date is Monday, December 2nd. Rocky Brands’s payout ratio is presently 29.79%.
Rocky Brands Profile
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.
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