SG Americas Securities LLC bought a new stake in Rocky Brands Inc (NASDAQ:RCKY) during the 1st quarter, HoldingsChannel reports. The fund bought 4,378 shares of the textile maker’s stock, valued at approximately $105,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in Rocky Brands by 502.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,422 shares of the textile maker’s stock worth $34,000 after buying an additional 1,186 shares during the period. Rhumbline Advisers purchased a new position in Rocky Brands in the 4th quarter worth about $242,000. First Trust Advisors LP increased its stake in Rocky Brands by 18.8% in the 4th quarter. First Trust Advisors LP now owns 12,174 shares of the textile maker’s stock worth $317,000 after buying an additional 1,930 shares during the period. Strs Ohio increased its stake in Rocky Brands by 24.9% in the 4th quarter. Strs Ohio now owns 12,900 shares of the textile maker’s stock worth $335,000 after buying an additional 2,574 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Rocky Brands in the 4th quarter worth about $349,000. 71.66% of the stock is currently owned by institutional investors and hedge funds.
RCKY stock traded up $0.42 during trading on Wednesday, hitting $25.97. The company had a trading volume of 40,843 shares, compared to its average volume of 37,595. The company has a market capitalization of $187.43 million, a PE ratio of 13.81 and a beta of 0.40. Rocky Brands Inc has a 52-week low of $22.44 and a 52-week high of $33.45.
Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Tuesday, April 23rd. The textile maker reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.06. The company had revenue of $65.93 million for the quarter, compared to the consensus estimate of $62.50 million. Rocky Brands had a net margin of 5.79% and a return on equity of 9.53%. As a group, analysts predict that Rocky Brands Inc will post 2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.16%. This is a boost from Rocky Brands’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, May 31st. Rocky Brands’s dividend payout ratio is presently 29.79%.
Separately, Zacks Investment Research raised shares of Rocky Brands from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, February 19th.
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About Rocky Brands
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.
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