Rocky Brands, Inc. (NASDAQ:RCKY) Plans Quarterly Dividend of $0.17

Rocky Brands, Inc. (NASDAQ:RCKY) declared a quarterly dividend on Monday, May 18th. Shareholders of record on Monday, June 1st will be given a dividend of 0.17 per share by the textile maker on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. This is a 9.7% increase from Rocky Brands’s previous quarterly dividend of $0.16.

Rocky Brands has raised its dividend payment by an average of 0.0%per year over the last three years. Rocky Brands has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings.

Rocky Brands Stock Performance

NASDAQ:RCKY opened at $34.34 on Tuesday. The company has a fifty day moving average of $39.98 and a two-hundred day moving average of $34.86. The stock has a market capitalization of $258.92 million, a PE ratio of 13.90 and a beta of 2.39. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 2.90. Rocky Brands has a fifty-two week low of $20.27 and a fifty-two week high of $48.70.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, April 28th. The textile maker reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The business had revenue of $124.40 million during the quarter, compared to analyst estimates of $122.42 million. Rocky Brands had a net margin of 3.78% and a return on equity of 8.43%.

Institutional Investors Weigh In On Rocky Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC increased its position in Rocky Brands by 9.8% during the first quarter. Empowered Funds LLC now owns 50,106 shares of the textile maker’s stock worth $1,940,000 after purchasing an additional 4,478 shares during the last quarter. Renaissance Technologies LLC increased its position in Rocky Brands by 39.1% during the first quarter. Renaissance Technologies LLC now owns 83,535 shares of the textile maker’s stock worth $3,234,000 after purchasing an additional 23,500 shares during the last quarter. Aristides Capital LLC increased its position in Rocky Brands by 264.6% during the first quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker’s stock worth $4,365,000 after purchasing an additional 81,822 shares during the last quarter. Sei Investments Co. acquired a new stake in Rocky Brands during the first quarter worth about $1,153,000. Finally, Walleye Capital LLC acquired a new stake in Rocky Brands during the first quarter worth about $516,000. 75.06% of the stock is currently owned by institutional investors and hedge funds.

About Rocky Brands

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.