Sei Investments Co. Invests $1.15 Million in Rocky Brands, Inc. $RCKY

Sei Investments Co. bought a new stake in Rocky Brands, Inc. (NASDAQ:RCKY) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,786 shares of the textile maker’s stock, valued at approximately $1,153,000. Sei Investments Co. owned 0.40% of Rocky Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of RCKY. State of Alaska Department of Revenue acquired a new stake in Rocky Brands in the 4th quarter worth about $35,000. Strs Ohio acquired a new position in shares of Rocky Brands during the 1st quarter worth approximately $92,000. BNP Paribas Financial Markets grew its position in shares of Rocky Brands by 391.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after purchasing an additional 2,903 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Rocky Brands during the first quarter worth approximately $149,000. Finally, Deutsche Bank AG increased its holdings in shares of Rocky Brands by 10.0% during the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after purchasing an additional 464 shares during the period. 75.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RCKY shares. BTIG Research reiterated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, July 29th. Robert W. Baird raised their price objective on Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Weiss Ratings raised Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Rocky Brands Stock Down 2.4%

Shares of RCKY opened at $47.45 on Wednesday. Rocky Brands, Inc. has a one year low of $25.76 and a one year high of $53.01. The company has a market cap of $355.40 million, a P/E ratio of 12.42 and a beta of 2.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.97 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $42.02 and a two-hundred day simple moving average of $39.59.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share for the quarter, topping the consensus estimate of $0.35 by $1.55. The firm had revenue of $118.37 million during the quarter, compared to analysts’ expectations of $110.08 million. Rocky Brands had a return on equity of 12.28% and a net margin of 5.72%.

Rocky Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.17 per share. The ex-dividend date was Monday, June 1st. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. This is an increase from Rocky Brands’s previous quarterly dividend of $0.15. Rocky Brands’s dividend payout ratio is currently 17.80%.

Insiders Place Their Bets

In other Rocky Brands news, Director G Courtney Haning sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $49.06, for a total transaction of $147,180.00. Following the completion of the transaction, the director owned 19,750 shares of the company’s stock, valued at approximately $968,935. The trade was a 13.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William L. Jordan sold 989 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $51.87, for a total value of $51,299.43. Following the transaction, the director directly owned 20,951 shares of the company’s stock, valued at approximately $1,086,728.37. The trade was a 4.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 15,483 shares of company stock valued at $763,214 in the last quarter. Corporate insiders own 7.60% of the company’s stock.

Rocky Brands Profile

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.