North Star Investment Management Corp. Decreases Stake in Rocky Brands, Inc. $RCKY

North Star Investment Management Corp. cut its holdings in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 9.9% during the third quarter, HoldingsChannel.com reports. The fund owned 190,125 shares of the textile maker’s stock after selling 21,000 shares during the period. North Star Investment Management Corp.’s holdings in Rocky Brands were worth $5,664,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Prudential Financial Inc. lifted its stake in Rocky Brands by 2.9% in the 2nd quarter. Prudential Financial Inc. now owns 28,445 shares of the textile maker’s stock worth $631,000 after purchasing an additional 800 shares in the last quarter. First Trust Advisors LP lifted its position in Rocky Brands by 4.2% during the second quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock worth $534,000 after buying an additional 963 shares in the last quarter. Yarger Wealth Strategies LLC lifted its position in Rocky Brands by 9.8% during the second quarter. Yarger Wealth Strategies LLC now owns 12,917 shares of the textile maker’s stock worth $287,000 after buying an additional 1,150 shares in the last quarter. Geode Capital Management LLC boosted its stake in Rocky Brands by 0.8% during the second quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock worth $3,782,000 after buying an additional 1,303 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Rocky Brands by 6.8% in the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock valued at $602,000 after buying an additional 2,205 shares in the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Insider Activity at Rocky Brands

In other Rocky Brands news, SVP Byron Wortham sold 6,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $29.90, for a total value of $197,340.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Curtis A. Loveland sold 4,775 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $32.43, for a total value of $154,853.25. Following the sale, the insider directly owned 95,454 shares in the company, valued at $3,095,573.22. This represents a 4.76% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,156 shares of company stock valued at $643,824. Insiders own 5.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on RCKY shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rocky Brands in a report on Monday, December 29th. BTIG Research reiterated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. Robert W. Baird set a $42.00 price target on shares of Rocky Brands in a research note on Wednesday, October 29th. Finally, Citigroup reiterated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Rocky Brands Trading Up 0.9%

RCKY opened at $28.92 on Tuesday. Rocky Brands, Inc. has a 52 week low of $11.93 and a 52 week high of $33.40. The company has a quick ratio of 0.88, a current ratio of 2.74 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $29.80 and a 200-day simple moving average of $27.85. The firm has a market cap of $216.73 million, a P/E ratio of 10.55 and a beta of 2.67.

Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Tuesday, October 28th. The textile maker reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.13. Rocky Brands had a return on equity of 11.03% and a net margin of 4.37%.The firm had revenue of $122.54 million for the quarter, compared to analyst estimates of $122.92 million.

Rocky Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.155 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.62 annualized dividend and a dividend yield of 2.1%. Rocky Brands’s dividend payout ratio (DPR) is presently 22.63%.

Rocky Brands Company 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.