19,804 Shares in Rocky Brands, Inc. $RCKY Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management purchased a new stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,804 shares of the textile maker’s stock, valued at approximately $590,000. Ritholtz Wealth Management owned 0.27% of Rocky Brands as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Strs Ohio bought a new position in shares of Rocky Brands during the 1st quarter valued at approximately $92,000. Lazard Asset Management LLC purchased a new position in Rocky Brands in the second quarter valued at approximately $155,000. Jump Financial LLC bought a new position in Rocky Brands during the second quarter valued at $208,000. NewEdge Advisors LLC increased its position 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 worth $253,000 after buying an additional 10,424 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in Rocky Brands in the second quarter worth $260,000. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Price Performance

RCKY stock opened at $32.35 on Wednesday. The firm has a 50 day moving average of $30.24 and a 200-day moving average of $28.54. The firm has a market capitalization of $242.30 million, a P/E ratio of 11.81 and a beta of 2.67. Rocky Brands, Inc. has a 12 month low of $11.93 and a 12 month high of $33.53. The company has a current ratio of 2.74, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53.

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 net margin of 4.37% and a return on equity of 11.03%. The business had revenue of $122.54 million for the quarter, compared to analysts’ expectations of $122.92 million.

Rocky Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, December 1st. Rocky Brands’s payout ratio is presently 22.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RCKY. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rocky Brands in a research note on Monday, December 29th. Wall Street Zen lowered shares of Rocky Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Citigroup reiterated a “neutral” rating on shares of Rocky Brands in a research note 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, BTIG Research reiterated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Insider Transactions at Rocky Brands

In other Rocky Brands news, insider Curtis A. Loveland sold 4,775 shares of the firm’s stock in a transaction dated 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 owned 95,454 shares of the company’s stock, valued at $3,095,573.22. This trade represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Byron Wortham sold 6,600 shares of Rocky Brands stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $29.90, for a total value of $197,340.00. The SEC filing for this sale provides additional information. Insiders sold a total of 21,156 shares of company stock worth $643,824 over the last 90 days. Corporate insiders own 5.10% of the company’s stock.

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.