Rocky Brands, Inc. (NASDAQ:RCKY) Declares Quarterly Dividend of $0.16

Rocky Brands, Inc. (NASDAQ:RCKY) declared a quarterly dividend on Monday, May 19th, RTT News reports. Shareholders of record on Monday, June 2nd will be paid a dividend of 0.155 per share by the textile maker on Monday, June 16th. This represents a $0.62 dividend on an annualized basis and a yield of 3.02%.

Rocky Brands has raised its dividend by an average of 1.7% annually over the last three years. Rocky Brands has a dividend payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings.

Rocky Brands Stock Down 2.1%

Rocky Brands stock opened at $20.54 on Tuesday. The firm has a market capitalization of $153.25 million, a P/E ratio of 11.54 and a beta of 2.36. The company has a 50-day simple moving average of $16.77 and a 200-day simple moving average of $20.53. Rocky Brands has a one year low of $11.93 and a one year high of $40.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, April 29th. The textile maker reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.21. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%. The business had revenue of $114.07 million for the quarter, compared to analysts’ expectations of $112.67 million.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. StockNews.com downgraded shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Robert W. Baird upped their price target on Rocky Brands from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th.

Hedge Funds Weigh In On Rocky Brands

An institutional investor recently raised its position in Rocky Brands stock. Empowered Funds LLC increased its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 6.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 34,672 shares of the textile maker’s stock after purchasing an additional 2,205 shares during the period. Empowered Funds LLC owned about 0.46% of Rocky Brands worth $602,000 at the end of the most recent reporting period. 75.06% of the stock is owned by 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.