Allspring Global Investments Holdings LLC Reduces Holdings in Rocky Brands, Inc. (NASDAQ:RCKY)

Allspring Global Investments Holdings LLC trimmed its stake in Rocky Brands, Inc. (NASDAQ:RCKY) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,303 shares of the textile maker’s stock after selling 8,559 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.49% of Rocky Brands worth $2,538,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rocky Brands in the 3rd quarter valued at $224,000. JPMorgan Chase & Co. grew its position in shares of Rocky Brands by 133.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,182 shares of the textile maker’s stock valued at $261,000 after buying an additional 4,683 shares during the last quarter. Barclays PLC grew its position in shares of Rocky Brands by 292.3% in the 3rd quarter. Barclays PLC now owns 9,757 shares of the textile maker’s stock valued at $311,000 after buying an additional 7,270 shares during the last quarter. Summit Global Investments purchased a new position in Rocky Brands during the 3rd quarter worth $341,000. Finally, Yarger Wealth Strategies LLC grew its position in Rocky Brands by 6.0% during the 4th quarter. Yarger Wealth Strategies LLC now owns 10,873 shares of the textile maker’s stock worth $248,000 after purchasing an additional 614 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RCKY shares. StockNews.com downgraded shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Saturday, February 8th. Robert W. Baird lowered their price objective on shares of 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 Trading Down 3.3 %

Shares of Rocky Brands stock opened at $23.09 on Friday. Rocky Brands, Inc. has a 1 year low of $19.65 and a 1 year high of $40.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79. The company has a market capitalization of $172.02 million, a P/E ratio of 12.97 and a beta of 2.10. The company’s fifty day moving average is $23.66 and its two-hundred day moving average is $25.87.

Rocky Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, March 3rd. Rocky Brands’s payout ratio is 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.