Deprince Race & Zollo Inc. Cuts Stake in Rocky Brands, Inc. $RCKY

Deprince Race & Zollo Inc. lowered its stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 17.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 107,298 shares of the textile maker’s stock after selling 22,592 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Rocky Brands were worth $4,155,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RCKY. State of Alaska Department of Revenue bought a new position in shares of Rocky Brands during the fourth quarter worth $35,000. BNP Paribas Financial Markets increased its holdings in Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock valued at $109,000 after acquiring an additional 2,903 shares during the last quarter. SG Americas Securities LLC bought a new stake in Rocky Brands in the 1st quarter valued at $149,000. Deutsche Bank AG lifted its stake in Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after purchasing an additional 464 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Rocky Brands in the 1st quarter worth $92,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Stock Down 3.8%

NASDAQ RCKY opened at $40.26 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 2.90. The company has a market capitalization of $303.56 million, a P/E ratio of 16.30 and a beta of 2.37. Rocky Brands, Inc. has a one year low of $22.34 and a one year high of $48.70. The stock has a 50 day moving average price of $38.48 and a 200-day moving average price of $37.02.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Tuesday, April 28th. The textile maker reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). Rocky Brands had a return on equity of 8.43% and a net margin of 3.78%.The business had revenue of $124.40 million during the quarter, compared to the consensus estimate of $122.42 million.

Rocky Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Rocky Brands’s previous quarterly dividend of $0.15. Rocky Brands’s dividend payout ratio is 27.53%.

Wall Street Analyst Weigh In

Several research firms have commented on RCKY. Weiss Ratings reissued a “hold (c+)” rating on shares of Rocky Brands in a report on Tuesday, May 26th. Wall Street Zen cut Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.00.

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.