96,984 Shares in Rocky Brands, Inc. $RCKY Acquired by Tieton Capital Management LLC

Tieton Capital Management LLC purchased a new stake in Rocky Brands, Inc. (NASDAQ:RCKY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 96,984 shares of the textile maker’s stock, valued at approximately $4,000,000. Tieton Capital Management LLC owned approximately 1.29% of Rocky Brands at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new stake in shares of Rocky Brands in the 4th quarter valued at $35,000. Strs Ohio bought a new position in Rocky Brands during the 1st quarter valued at about $92,000. BNP Paribas Financial Markets grew its stake in Rocky Brands by 391.2% during the third quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after buying an additional 2,903 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Rocky Brands during the first quarter worth approximately $149,000. Finally, Deutsche Bank AG raised its stake in shares of Rocky Brands by 10.0% in the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after acquiring an additional 464 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors and hedge funds.

Rocky Brands Trading Up 1.7%

NASDAQ:RCKY opened at $47.05 on Thursday. The company has a current ratio of 2.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43. Rocky Brands, Inc. has a 1-year low of $25.76 and a 1-year high of $53.01. The firm has a market capitalization of $352.40 million, a price-to-earnings ratio of 12.32 and a beta of 2.36. The business’s 50-day moving average price is $43.13 and its two-hundred day moving average price is $40.19.

Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share for the quarter, topping the consensus estimate of $0.35 by $1.55. Rocky Brands had a net margin of 5.72% and a return on equity of 12.28%. The company had revenue of $118.37 million for the quarter, compared to analyst estimates of $110.08 million.

Rocky Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.17 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Rocky Brands’s payout ratio is currently 17.80%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. BTIG Research reiterated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Robert W. Baird increased their price objective on shares of Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.00.

Insiders Place Their Bets

In other news, insider Curtis A. Loveland sold 3,483 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $50.54, for a total transaction of $176,030.82. Following the completion of the sale, the insider owned 92,610 shares of the company’s stock, valued at $4,680,509.40. This represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tracie A. Winbigler sold 3,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $47.45, for a total transaction of $142,350.00. Following the sale, the director owned 14,246 shares in the company, valued at approximately $675,972.70. The trade was a 17.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,483 shares of company stock valued at $763,214 in the last quarter. 7.60% of the stock is owned by company insiders.

Rocky Brands Profile

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.