LSV Asset Management Acquires 2,500 Shares of Rocky Brands, Inc. (NASDAQ:RCKY)

LSV Asset Management lifted its stake in Rocky Brands, Inc. (NASDAQ:RCKY) by 7.4% during the fourth quarter, HoldingsChannel reports. The firm owned 36,061 shares of the textile maker’s stock after purchasing an additional 2,500 shares during the period. LSV Asset Management’s holdings in Rocky Brands were worth $822,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RCKY. Renaissance Technologies LLC grew its stake in Rocky Brands by 30.7% in the 4th quarter. Renaissance Technologies LLC now owns 47,735 shares of the textile maker’s stock worth $1,088,000 after acquiring an additional 11,200 shares in the last quarter. Wells Fargo & Company MN grew its stake in Rocky Brands by 31.2% in the fourth quarter. Wells Fargo & Company MN now owns 4,236 shares of the textile maker’s stock worth $97,000 after purchasing an additional 1,007 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new position in Rocky Brands during the 4th quarter worth $289,000. JPMorgan Chase & Co. raised its position in Rocky Brands by 180.3% during the 4th quarter. JPMorgan Chase & Co. now owns 22,931 shares of the textile maker’s stock valued at $523,000 after purchasing an additional 14,749 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Rocky Brands by 13.7% during the 4th quarter. American Century Companies Inc. now owns 213,991 shares of the textile maker’s stock worth $4,879,000 after buying an additional 25,806 shares in the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Stock Performance

Shares of RCKY stock opened at $12.76 on Tuesday. The firm has a market cap of $95.23 million, a price-to-earnings ratio of 7.17 and a beta of 2.25. Rocky Brands, Inc. has a 52-week low of $12.59 and a 52-week high of $40.14. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $19.14 and its 200 day moving average is $22.54.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings results on Tuesday, February 25th. The textile maker reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). The company had revenue of $128.05 million during the quarter, compared to the consensus estimate of $125.44 million. Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%.

Rocky Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Monday, March 3rd. Rocky Brands’s payout ratio is 41.06%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, February 8th.

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.