422,939 Shares in Rocky Brands, Inc. (NASDAQ:RCKY) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 422,939 shares of the textile maker’s stock, valued at approximately $9,643,000. Raymond James Financial Inc. owned 5.68% of Rocky Brands at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in shares of Rocky Brands by 0.3% during the 3rd quarter. FMR LLC now owns 1,117,353 shares of the textile maker’s stock valued at $35,599,000 after buying an additional 3,883 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Rocky Brands by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 168,315 shares of the textile maker’s stock valued at $5,364,000 after buying an additional 7,353 shares in the last quarter. State Street Corp lifted its position in shares of Rocky Brands by 0.4% during the 3rd quarter. State Street Corp now owns 134,249 shares of the textile maker’s stock valued at $4,277,000 after buying an additional 586 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Rocky Brands by 16.1% during the 4th quarter. Bank of New York Mellon Corp now owns 76,195 shares of the textile maker’s stock valued at $1,737,000 after buying an additional 10,584 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Rocky Brands by 4.8% during the 4th quarter. Empowered Funds LLC now owns 32,467 shares of the textile maker’s stock valued at $740,000 after buying an additional 1,473 shares in the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.

Analysts Set New Price Targets

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

Rocky Brands Trading Down 1.5 %

Shares of RCKY stock opened at $17.85 on Friday. The stock’s fifty day moving average is $22.30 and its two-hundred day moving average is $24.46. 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 firm has a market capitalization of $133.05 million, a P/E ratio of 10.03 and a beta of 2.18. Rocky Brands, Inc. has a fifty-two week low of $17.80 and a fifty-two week high of $40.14.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Tuesday, February 25th. The textile maker reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). The firm had revenue of $128.05 million during the quarter, compared to analysts’ expectations of $125.44 million. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%.

Rocky Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.155 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.62 dividend on an annualized basis and a yield of 3.47%. Rocky Brands’s payout ratio is currently 41.06%.

Rocky Brands 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.