Rocky Brands (NASDAQ:RCKY) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Rocky Brands (NASDAQ:RCKY – Get Rating) in a research report report published on Thursday. The firm issued a hold rating on the textile maker’s stock.

Separately, BTIG Research started coverage on shares of Rocky Brands in a research note on Monday, February 6th. They set a neutral rating on the stock.

Rocky Brands Stock Performance

Shares of Rocky Brands stock opened at $22.53 on Thursday. The firm has a market capitalization of $165.60 million, a P/E ratio of 8.13 and a beta of 1.15. The company has a quick ratio of 1.00, a current ratio of 3.54 and a debt-to-equity ratio of 1.18. Rocky Brands has a 52 week low of $18.00 and a 52 week high of $45.42. The firm’s 50 day moving average is $28.19 and its two-hundred day moving average is $25.19.

Rocky Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were paid a dividend of $0.155 per share. The ex-dividend date was Tuesday, February 28th. This represents a $0.62 dividend on an annualized basis and a yield of 2.75%. Rocky Brands’s dividend payout ratio is presently 22.38%.

Institutional Investors Weigh In On Rocky Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in shares of Rocky Brands by 18.4% in the 3rd quarter. Raymond James & Associates now owns 531,853 shares of the textile maker’s stock valued at $10,669,000 after acquiring an additional 82,791 shares during the period. Franklin Resources Inc. increased its stake in Rocky Brands by 106.7% in the fourth quarter. Franklin Resources Inc. now owns 127,952 shares of the textile maker’s stock valued at $3,022,000 after purchasing an additional 66,061 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Rocky Brands by 61.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 143,275 shares of the textile maker’s stock valued at $2,874,000 after purchasing an additional 54,593 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Rocky Brands by 2,450.7% in the fourth quarter. Russell Investments Group Ltd. now owns 48,948 shares of the textile maker’s stock valued at $1,156,000 after buying an additional 47,029 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Rocky Brands by 10.2% during the third quarter. Royce & Associates LP now owns 303,783 shares of the textile maker’s stock worth $6,094,000 after buying an additional 28,154 shares during the period. Hedge funds and other institutional investors own 75.96% of the company’s stock.

About Rocky Brands

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