Hillsdale Investment Management Inc. Purchases 60,330 Shares of Rocky Brands, Inc. $RCKY

Hillsdale Investment Management Inc. raised its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 48.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 183,592 shares of the textile maker’s stock after buying an additional 60,330 shares during the period. Hillsdale Investment Management Inc. owned 2.46% of Rocky Brands worth $5,469,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of RCKY. Strs Ohio purchased a new position in Rocky Brands in the first quarter worth $92,000. Lazard Asset Management LLC bought a new position in Rocky Brands during the second quarter valued at about $155,000. Metis Global Partners LLC purchased a new stake in Rocky Brands during the third quarter worth about $208,000. Jump Financial LLC bought a new stake in Rocky Brands in the second quarter worth about $208,000. Finally, NewEdge Advisors LLC boosted its stake in Rocky Brands by 1,060.4% in the second quarter. NewEdge Advisors LLC now owns 11,407 shares of the textile maker’s stock valued at $253,000 after acquiring an additional 10,424 shares during the last quarter. Institutional investors own 75.06% of the company’s stock.

Analyst Upgrades and Downgrades

RCKY has been the topic of several research analyst reports. Citigroup reiterated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Wall Street Zen upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 25th. Robert W. Baird set a $42.00 target price on Rocky Brands in a research note on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Rocky Brands in a research report on Monday, December 29th. Finally, BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Rocky Brands currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Rocky Brands Trading Up 0.8%

Shares of NASDAQ RCKY opened at $33.75 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.74 and a quick ratio of 0.88. The firm has a 50-day moving average of $31.70 and a 200 day moving average of $29.95. Rocky Brands, Inc. has a 1 year low of $11.93 and a 1 year high of $34.61. The stock has a market cap of $252.79 million, a P/E ratio of 12.32 and a beta of 2.72.

Rocky Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.155 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 1.8%. Rocky Brands’s dividend payout ratio is presently 22.63%.

About Rocky Brands

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.