Rocky Brands, Inc. (NASDAQ:RCKY) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 18.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,436 shares of the textile maker’s stock after acquiring an additional 16,852 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.43% of Rocky Brands worth $2,888,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Aristides Capital LLC increased its position in shares of Rocky Brands by 3.5% in the 4th quarter. Aristides Capital LLC now owns 42,647 shares of the textile maker’s stock valued at $1,287,000 after purchasing an additional 1,441 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Rocky Brands by 94.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock worth $51,000 after buying an additional 826 shares during the last quarter. Trexquant Investment LP purchased a new stake in Rocky Brands during the 4th quarter worth about $555,000. Panagora Asset Management Inc. purchased a new position in shares of Rocky Brands in the 4th quarter valued at about $508,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Rocky Brands during the 4th quarter worth about $322,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

Rocky Brands Trading Down 1.7 %

RCKY opened at $34.26 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 3.31 and a debt-to-equity ratio of 0.68. Rocky Brands, Inc. has a 52 week low of $11.77 and a 52 week high of $40.14. The business’s 50 day moving average is $35.37 and its two-hundred day moving average is $30.28. The firm has a market cap of $254.21 million, a price-to-earnings ratio of 18.93 and a beta of 2.10.

Rocky Brands (NASDAQ:RCKY) last announced its earnings results on Tuesday, April 30th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.39. Rocky Brands had a net margin of 2.88% and a return on equity of 8.41%. The business had revenue of $112.91 million for the quarter, compared to analyst estimates of $108.01 million.

Rocky Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.155 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.62 dividend on an annualized basis and a yield of 1.81%. Rocky Brands’s dividend payout ratio is presently 34.25%.

Insider Activity

In other news, Director G Courtney Haning sold 5,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were 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 owns 20,686 shares in the company, valued at $678,087.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Rocky Brands news, Director G Courtney Haning sold 5,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $32.78, for a total transaction of $163,900.00. Following the completion of the transaction, the director now owns 20,686 shares in the company, valued at approximately $678,087.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Curtis A. Loveland sold 4,000 shares of Rocky Brands stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $37.00, for a total value of $148,000.00. Following the completion of the sale, the insider now directly owns 95,804 shares in the company, valued at approximately $3,544,748. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,515 shares of company stock valued at $750,713. Insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RCKY shares. Robert W. Baird upped their price target on Rocky Brands from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. StockNews.com lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th.

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.