LSV Asset Management Cuts Stake in Rocky Brands, Inc. (NASDAQ:RCKY)

LSV Asset Management trimmed its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 10.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 174,609 shares of the textile maker’s stock after selling 20,545 shares during the quarter. LSV Asset Management’s holdings in Rocky Brands were worth $5,270,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in shares of Rocky Brands during the fourth quarter worth $322,000. New York State Common Retirement Fund raised its holdings in Rocky Brands by 1,793.8% in the 4th quarter. New York State Common Retirement Fund now owns 4,564 shares of the textile maker’s stock valued at $138,000 after acquiring an additional 4,323 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Rocky Brands by 22.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 89,584 shares of the textile maker’s stock worth $2,704,000 after purchasing an additional 16,220 shares in the last quarter. Denali Advisors LLC boosted its holdings in shares of Rocky Brands by 24.7% during the 4th quarter. Denali Advisors LLC now owns 20,832 shares of the textile maker’s stock worth $629,000 after purchasing an additional 4,132 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Rocky Brands during the fourth quarter worth approximately $235,000. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Rocky Brands from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. B. Riley increased their price objective on Rocky Brands from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Finally, Robert W. Baird upped their price target on Rocky Brands from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st.

Rocky Brands Trading Up 5.1 %

NASDAQ RCKY opened at $36.16 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 3.61. Rocky Brands, Inc. has a one year low of $11.77 and a one year high of $37.42. The firm has a market cap of $268.42 million, a price-to-earnings ratio of 19.98 and a beta of 1.97. The firm has a 50 day simple moving average of $27.25 and a 200-day simple moving average of $26.69.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The business had revenue of $125.95 million for the quarter, compared to the consensus estimate of $128.90 million. Rocky Brands had a return on equity of 8.49% and a net margin of 2.88%.

Rocky Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a $0.155 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.62 dividend on an annualized basis and a yield of 1.71%. Rocky Brands’s payout ratio is currently 34.25%.

Insider Activity

In other Rocky Brands news, Director G Courtney Haning sold 5,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $32.78, for a total transaction of $163,900.00. Following the sale, the director now directly owns 20,686 shares in the company, valued at $678,087.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director G Courtney Haning sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $32.78, for a total value of $163,900.00. Following the sale, the director now directly owns 20,686 shares of the company’s stock, valued at $678,087.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Curtis A. Loveland sold 2,515 shares of Rocky Brands stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.56, for a total value of $89,433.40. Following the completion of the transaction, the insider now directly owns 96,783 shares in the company, valued at $3,441,603.48. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.

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.