JPMorgan Chase & Co. Acquires 4,683 Shares of Rocky Brands, Inc. (NASDAQ:RCKY)

JPMorgan Chase & Co. raised its holdings in Rocky Brands, Inc. (NASDAQ:RCKY) by 133.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,182 shares of the textile maker’s stock after acquiring an additional 4,683 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.11% of Rocky Brands worth $261,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. FMR LLC increased its holdings in Rocky Brands by 0.3% in the third quarter. FMR LLC now owns 1,117,353 shares of the textile maker’s stock valued at $35,599,000 after purchasing an additional 3,883 shares during the period. Geode Capital Management LLC grew its position in shares of Rocky Brands by 4.6% in 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 during the last quarter. State Street Corp grew its position in shares of Rocky Brands by 0.4% in 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 during the last quarter. Empowered Funds LLC increased its stake in shares of Rocky Brands by 5.0% in the third quarter. Empowered Funds LLC now owns 30,994 shares of the textile maker’s stock valued at $987,000 after buying an additional 1,474 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Rocky Brands by 21.0% during the second quarter. Marshall Wace LLP now owns 29,355 shares of the textile maker’s stock worth $1,085,000 after acquiring an additional 5,086 shares during the last quarter. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Stock Performance

RCKY stock opened at $25.04 on Friday. The firm has a market cap of $186.55 million, a PE ratio of 14.07 and a beta of 2.10. The company has a current ratio of 2.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $23.20 and a 200-day moving average price of $26.99. Rocky Brands, Inc. has a 1-year low of $19.65 and a 1-year high of $40.14.

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

Rocky Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were given a dividend of $0.155 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.48%. Rocky Brands’s payout ratio is presently 34.83%.

Wall Street Analysts Forecast Growth

RCKY has been the topic of several analyst reports. Robert W. Baird reduced their target price on Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. StockNews.com raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a research note on Friday.

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.