Zacks Investment Research cut shares of Rocky Brands (NASDAQ:RCKY) from a buy rating to a hold rating in a report published on Wednesday.
According to Zacks, “Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear, Georgia Boot, Durango, Lehigh, and the licensed brand, Dickies. “
Separately, ValuEngine upgraded Rocky Brands from a hold rating to a buy rating in a research report on Monday, December 31st.
Shares of Rocky Brands stock traded up $0.47 on Wednesday, reaching $30.42. The company’s stock had a trading volume of 36,123 shares, compared to its average volume of 23,621. The stock has a market capitalization of $208.09 million, a PE ratio of 15.93 and a beta of 0.26. Rocky Brands has a 52-week low of $18.93 and a 52-week high of $33.45.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Thursday, February 28th. Rocky Brands’s dividend payout ratio (DPR) is presently 25.53%.
In other news, Director Robert Burton Jr. Moore sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $30.22, for a total value of $120,880.00. Following the completion of the sale, the director now directly owns 22,101 shares in the company, valued at $667,892.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Byron Wortham sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $30.00, for a total value of $30,000.00. Following the completion of the sale, the insider now owns 2,350 shares of the company’s stock, valued at $70,500. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock valued at $259,060 over the last 90 days. Company insiders own 9.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of RCKY. AQR Capital Management LLC increased its position in shares of Rocky Brands by 264.0% in the third quarter. AQR Capital Management LLC now owns 200,325 shares of the textile maker’s stock valued at $5,670,000 after buying an additional 145,288 shares in the last quarter. Martingale Asset Management L P purchased a new stake in shares of Rocky Brands during the third quarter worth approximately $1,909,000. Northern Trust Corp increased its position in shares of Rocky Brands by 202.7% during the second quarter. Northern Trust Corp now owns 84,337 shares of the textile maker’s stock worth $2,530,000 after purchasing an additional 56,473 shares in the last quarter. BlackRock Inc. increased its position in shares of Rocky Brands by 9.1% during the third quarter. BlackRock Inc. now owns 668,470 shares of the textile maker’s stock worth $18,918,000 after purchasing an additional 55,924 shares in the last quarter. Finally, Bowling Portfolio Management LLC increased its position in shares of Rocky Brands by 151.2% during the fourth quarter. Bowling Portfolio Management LLC now owns 55,161 shares of the textile maker’s stock worth $1,434,000 after purchasing an additional 33,202 shares in the last quarter. Institutional investors and hedge funds own 73.97% of the company’s stock.
Rocky Brands Company Profile
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.
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