Meritage Portfolio Management Invests $399,000 in Rocky Brands, Inc. (NASDAQ:RCKY)


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Meritage Portfolio Management purchased a new position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,385 shares of the textile maker’s stock, valued at approximately $399,000. Meritage Portfolio Management owned approximately 0.10% of Rocky Brands as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of RCKY. Nkcfo LLC bought a new position in Rocky Brands in the 4th quarter valued at $267,000. Assenagon Asset Management S.A. bought a new stake in Rocky Brands during the fourth quarter valued at about $1,814,000. Bailard Inc. bought a new position in Rocky Brands during the fourth quarter valued at approximately $205,000. BlackRock Inc. boosted its stake in Rocky Brands by 3.4% during the fourth quarter. BlackRock Inc. now owns 513,315 shares of the textile maker’s stock valued at $14,409,000 after buying an additional 16,855 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Rocky Brands during the fourth quarter valued at approximately $228,000. 67.80% of the stock is currently owned by institutional investors.

Shares of RCKY stock opened at $55.08 on Tuesday. Rocky Brands, Inc. has a 12 month low of $16.57 and a 12 month high of $61.45. The company has a market cap of $401.04 million, a P/E ratio of 24.92 and a beta of 0.61. The firm has a fifty day moving average price of $54.03 and a 200 day moving average price of $37.85.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, February 23rd. The textile maker reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.59. The business had revenue of $87.62 million during the quarter, compared to analysts’ expectations of $80.10 million. Rocky Brands had a net margin of 6.16% and a return on equity of 10.75%. As a group, equities analysts expect that Rocky Brands, Inc. will post 2.57 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 16th. Investors of record on Tuesday, March 2nd were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.02%. The ex-dividend date was Monday, March 1st. Rocky Brands’s payout ratio is 24.67%.

A number of research firms have recently weighed in on RCKY. B. Riley raised their price objective on Rocky Brands from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 20th. Zacks Investment Research cut Rocky Brands from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 28th.

Rocky Brands Profile

Rocky Brands, Inc engages in the design, manufacture, and marketing of footwear and apparel. Its brand includes Rocky, Georgia Boot, Durango, Lehigh, and Michelin. It operates through the following segments: Wholesale, Retail, and Military. The Wholesale segment distributes products through retail stores.

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Institutional Ownership by Quarter for Rocky Brands (NASDAQ:RCKY)

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