Russell Investments Group Ltd. Raises Position in Rocky Brands, Inc. (NASDAQ:RCKY)

Russell Investments Group Ltd. boosted its stake in Rocky Brands, Inc. (NASDAQ:RCKY – Get Rating) by 2,450.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,948 shares of the textile maker’s stock after buying an additional 47,029 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.67% of Rocky Brands worth $1,156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diamond Hill Capital Management Inc. lifted its stake in Rocky Brands by 61.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 143,275 shares of the textile maker’s stock valued at $2,874,000 after buying an additional 54,593 shares in the last quarter. Select Equity Group L.P. lifted its stake in Rocky Brands by 23.3% in the 1st quarter. Select Equity Group L.P. now owns 37,524 shares of the textile maker’s stock worth $1,561,000 after purchasing an additional 7,091 shares in the last quarter. Millennium Management LLC purchased a new position in Rocky Brands in the 2nd quarter worth approximately $496,000. Royal Bank of Canada lifted its stake in Rocky Brands by 6.0% in the 3rd quarter. Royal Bank of Canada now owns 22,187 shares of the textile maker’s stock worth $445,000 after purchasing an additional 1,248 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Rocky Brands by 4.7% in the 2nd quarter. Rhumbline Advisers now owns 9,781 shares of the textile maker’s stock worth $334,000 after purchasing an additional 442 shares in the last quarter. 75.96% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Stock Up 1.6 %

Shares of NASDAQ RCKY opened at $19.51 on Thursday. The company has a 50 day simple moving average of $23.21 and a 200-day simple moving average of $25.67. The company has a market capitalization of $143.48 million, a P/E ratio of 11.28 and a beta of 1.18. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.41 and a quick ratio of 0.95. Rocky Brands, Inc. has a 1 year low of $18.00 and a 1 year high of $38.45.

Rocky Brands (NASDAQ:RCKY – Get Rating) last posted its earnings results on Thursday, February 23rd. The textile maker reported $1.08 earnings per share for the quarter. Rocky Brands had a net margin of 2.28% and a return on equity of 7.15%. The firm had revenue of $138.93 million during the quarter. On average, equities research analysts predict that Rocky Brands, Inc. will post 2.01 earnings per share for the current year.

Rocky Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.62 annualized dividend and a yield of 3.18%. Rocky Brands’s dividend payout ratio (DPR) is presently 35.84%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RCKY shares. StockNews.com started coverage on shares of Rocky Brands in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. BTIG Research started coverage on shares of Rocky Brands in a research note on Monday, February 6th. They issued a “neutral” rating on the stock. Finally, B. Riley cut their price target on shares of Rocky Brands from $28.00 to $25.00 in a report on Wednesday, May 3rd.

Rocky Brands Company Profile

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Rocky Brands, Inc engages in the design, manufacture, and marketing of footwear and apparel. Its brands include Rocky, Georgia Boot, Durango, Lehigh, and Michelin. It operates through the following segments: Wholesale, Retail, and Contract Manufacturing. The Wholesale segment distributes products through retail stores.