Rocky Brands, Inc. (NASDAQ:RCKY) Shares Acquired by State Street Corp

State Street Corp boosted its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,249 shares of the textile maker’s stock after acquiring an additional 586 shares during the quarter. State Street Corp owned 1.80% of Rocky Brands worth $4,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Rocky Brands by 29.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock worth $100,000 after purchasing an additional 618 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Rocky Brands in the third quarter valued at approximately $224,000. Yarger Wealth Strategies LLC lifted its position in Rocky Brands by 7.7% during the second quarter. Yarger Wealth Strategies LLC now owns 9,737 shares of the textile maker’s stock valued at $360,000 after buying an additional 692 shares in the last quarter. Inspire Advisors LLC acquired a new position in Rocky Brands during the third quarter valued at approximately $339,000. Finally, Summit Global Investments purchased a new stake in Rocky Brands during the third quarter worth approximately $341,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RCKY. StockNews.com lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird cut their price objective on Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st.

Rocky Brands Stock Down 3.7 %

Shares of NASDAQ:RCKY opened at $22.53 on Monday. The company has a 50 day moving average of $22.88 and a two-hundred day moving average of $28.94. Rocky Brands, Inc. has a 52-week low of $19.65 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 has a market capitalization of $167.94 million, a price-to-earnings ratio of 12.66 and a beta of 2.13.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.22). The firm had revenue of $114.55 million for the quarter. Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%.

Rocky Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.62 dividend on an annualized basis and a yield of 2.75%. Rocky Brands’s dividend payout ratio (DPR) is presently 34.83%.

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.