Rocky Brands, Inc. (NASDAQ:RCKY) to Issue Quarterly Dividend of $0.16

Rocky Brands, Inc. (NASDAQ:RCKYGet Rating) declared a quarterly dividend on Monday, May 16th, Zacks reports. Investors of record on Wednesday, June 1st will be given a dividend of 0.155 per share by the textile maker on Wednesday, June 15th. This represents a $0.62 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Tuesday, May 31st.

Rocky Brands has raised its dividend payment by an average of 7.9% per year over the last three years and has raised its dividend every year for the last 1 years. Rocky Brands has a dividend payout ratio of 9.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Rocky Brands to earn $6.96 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 8.9%.

NASDAQ:RCKY traded down $1.85 during midday trading on Wednesday, reaching $37.21. 11 shares of the company traded hands, compared to its average volume of 32,772. Rocky Brands has a twelve month low of $33.04 and a twelve month high of $60.14. The firm has a market capitalization of $272.01 million, a price-to-earnings ratio of 12.40 and a beta of 0.75. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 0.75. The company has a fifty day moving average price of $41.14 and a 200 day moving average price of $40.87.

Rocky Brands (NASDAQ:RCKYGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The textile maker reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.16. Rocky Brands had a return on equity of 16.42% and a net margin of 3.94%. The business had revenue of $167.03 million during the quarter, compared to analyst estimates of $137.42 million. During the same quarter in the previous year, the firm posted $1.19 EPS. On average, equities research analysts forecast that Rocky Brands will post 5.39 earnings per share for the current fiscal year.

Several brokerages have weighed in on RCKY. StockNews.com began coverage on Rocky Brands in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised Rocky Brands from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Saturday, May 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $59.25.

Several institutional investors have recently made changes to their positions in RCKY. Select Equity Group L.P. raised its position in shares of Rocky Brands by 23.3% during the first quarter. Select Equity Group L.P. now owns 37,524 shares of the textile maker’s stock worth $1,561,000 after purchasing an additional 7,091 shares during the period. UBS Group AG raised its position in shares of Rocky Brands by 971.1% during the third quarter. UBS Group AG now owns 7,808 shares of the textile maker’s stock worth $372,000 after purchasing an additional 7,079 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Rocky Brands during the first quarter worth $250,000. NewEdge Advisors LLC acquired a new stake in shares of Rocky Brands during the fourth quarter worth $209,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Rocky Brands during the third quarter worth $225,000. 79.35% of the stock is currently owned by institutional investors.

About Rocky Brands (Get Rating)

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, Muck, XTRATUF, Servus, NEOS, Ranger, and licensed Michelin brand names in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments.

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Dividend History for Rocky Brands (NASDAQ:RCKY)

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