Charles Schwab Investment Management Inc. Cuts Position in Rocky Brands, Inc. (NASDAQ:RCKY)

Charles Schwab Investment Management Inc. reduced its holdings in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,575 shares of the textile maker’s stock after selling 1,424 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.26% of Rocky Brands worth $446,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC boosted its position in Rocky Brands by 9.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,228 shares of the textile maker’s stock worth $210,000 after purchasing an additional 820 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Rocky Brands during the third quarter worth about $224,000. Yarger Wealth Strategies LLC lifted its stake in shares of Rocky Brands by 6.0% during the fourth 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 in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Rocky Brands by 133.8% in the third quarter. JPMorgan Chase & Co. now owns 8,182 shares of the textile maker’s stock worth $261,000 after buying an additional 4,683 shares during the period. Finally, Bailard Inc. acquired a new stake in shares of Rocky Brands in the fourth quarter valued at about $277,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Rocky Brands Price Performance

Shares of RCKY stock opened at $17.37 on Tuesday. The firm has a fifty day simple moving average of $21.63 and a 200-day simple moving average of $23.86. The company has a market capitalization of $129.63 million, a PE ratio of 9.76 and a beta of 2.18. Rocky Brands, Inc. has a twelve month low of $17.03 and a twelve month high of $40.14. The company has a current ratio of 2.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, February 25th. The textile maker reported $1.19 EPS 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 analyst estimates 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.155 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.62 dividend on an annualized basis and a yield of 3.57%. Rocky Brands’s dividend payout ratio (DPR) is presently 41.06%.

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.