LSV Asset Management Sells 20,545 Shares of Rocky Brands, Inc. (NASDAQ:RCKY)

LSV Asset Management cut its stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 174,609 shares of the textile maker’s stock after selling 20,545 shares during the quarter. LSV Asset Management owned 2.37% of Rocky Brands worth $5,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new position in shares of Rocky Brands during the 4th quarter valued at about $322,000. New York State Common Retirement Fund lifted its stake in Rocky Brands by 1,793.8% in the fourth quarter. New York State Common Retirement Fund now owns 4,564 shares of the textile maker’s stock worth $138,000 after purchasing an additional 4,323 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Rocky Brands by 22.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 89,584 shares of the textile maker’s stock valued at $2,704,000 after buying an additional 16,220 shares during the period. Denali Advisors LLC grew its stake in shares of Rocky Brands by 24.7% during the fourth quarter. Denali Advisors LLC now owns 20,832 shares of the textile maker’s stock valued at $629,000 after buying an additional 4,132 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Rocky Brands in the 4th quarter valued at about $235,000. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Stock Up 5.1 %

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

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

Rocky Brands Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on RCKY. B. Riley boosted their price objective on Rocky Brands from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Robert W. Baird raised their target price on Rocky Brands from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, StockNews.com lowered Rocky Brands from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th.

Insider Transactions at Rocky Brands

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

Rocky Brands Company Profile

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.