Tower Research Capital LLC TRC Increases Holdings in Rocky Brands, Inc. (NASDAQ:RCKY)

Tower Research Capital LLC TRC lifted its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 94.5% in the 4th quarter, HoldingsChannel reports. The firm owned 1,700 shares of the textile maker’s stock after purchasing an additional 826 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Rocky Brands were worth $51,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of RCKY. Raymond James & Associates raised its position in Rocky Brands by 3.3% during the third quarter. Raymond James & Associates now owns 511,398 shares of the textile maker’s stock valued at $7,518,000 after acquiring an additional 16,427 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Rocky Brands by 10.8% during the third quarter. Diamond Hill Capital Management Inc. now owns 171,203 shares of the textile maker’s stock valued at $2,517,000 after acquiring an additional 16,727 shares in the last quarter. Manatuck Hill Partners LLC purchased a new position in Rocky Brands during the third quarter valued at approximately $588,000. Quadrature Capital Ltd purchased a new position in Rocky Brands during the third quarter valued at approximately $261,000. Finally, SG Americas Securities LLC purchased a new position in Rocky Brands during the fourth quarter valued at approximately $118,000. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Rocky Brands Price Performance

RCKY traded down $1.30 during trading on Tuesday, hitting $25.77. The company’s stock had a trading volume of 45,216 shares, compared to its average volume of 27,626. The company has a current ratio of 3.61, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. Rocky Brands, Inc. has a twelve month low of $11.77 and a twelve month high of $32.38. The business’s fifty day simple moving average is $26.82 and its 200 day simple moving average is $25.82. The firm has a market capitalization of $191.21 million, a price-to-earnings ratio of 18.15 and a beta of 1.97.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.89 by $0.09. Rocky Brands had a return on equity of 6.70% and a net margin of 2.26%. The company had revenue of $125.95 million for the quarter, compared to analyst estimates of $128.90 million. On average, equities research analysts forecast that Rocky Brands, Inc. will post 1.96 EPS for the current fiscal year.

Rocky Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 2.41%. The ex-dividend date was Friday, March 1st. Rocky Brands’s payout ratio is currently 43.66%.

Analysts Set New Price Targets

RCKY has been the subject of several recent research reports. StockNews.com cut Rocky Brands from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. B. Riley lifted their price target on Rocky Brands from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.