Diamond Hill Capital Management Inc. Has $3.62 Million Stock Holdings in Rocky Brands, Inc. (NASDAQ:RCKY)

Diamond Hill Capital Management Inc. lessened its holdings in Rocky Brands, Inc. (NASDAQ:RCKY) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,451 shares of the textile maker’s stock after selling 2,739 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Rocky Brands were worth $3,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. boosted its position in shares of Rocky Brands by 29.5% in the second quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock worth $100,000 after buying an additional 618 shares during the period. Yarger Wealth Strategies LLC boosted its position in shares of Rocky Brands by 7.7% in the second quarter. Yarger Wealth Strategies LLC now owns 9,737 shares of the textile maker’s stock worth $360,000 after buying an additional 692 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Rocky Brands by 59.5% in the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock worth $97,000 after buying an additional 1,332 shares during the period. Bank of New York Mellon Corp boosted its position in Rocky Brands by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock valued at $2,637,000 after purchasing an additional 2,962 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Rocky Brands during the second quarter valued at $149,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

Rocky Brands Price Performance

Shares of NASDAQ:RCKY opened at $22.13 on Tuesday. Rocky Brands, Inc. has a fifty-two week low of $19.65 and a fifty-two week high of $40.14. The business has a 50-day moving average of $28.50 and a two-hundred day moving average of $32.07. The stock has a market capitalization of $164.87 million, a P/E ratio of 12.43 and a beta of 2.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.87 and a quick ratio of 0.85.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.22). Rocky Brands had a return on equity of 7.78% and a net margin of 2.94%. The company had revenue of $114.55 million during the quarter.

Rocky Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.155 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.80%. Rocky Brands’s dividend payout ratio is currently 34.83%.

Analyst Upgrades and Downgrades

RCKY has been the subject of a number of research reports. Robert W. Baird reduced their price objective on Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. StockNews.com cut Rocky Brands from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st.

Rocky Brands Company 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.