Crawford Investment Counsel Inc. Takes $2.76 Million Position in Rocky Brands, Inc. (NASDAQ:RCKY)

Crawford Investment Counsel Inc. purchased a new position in Rocky Brands, Inc. (NASDAQ:RCKYGet Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 66,456 shares of the textile maker’s stock, valued at approximately $2,764,000. Crawford Investment Counsel Inc. owned approximately 0.91% of Rocky Brands as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RCKY. Raymond James & Associates raised its position in shares of Rocky Brands by 8.8% during the 1st quarter. Raymond James & Associates now owns 395,198 shares of the textile maker’s stock worth $16,436,000 after purchasing an additional 32,105 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Rocky Brands by 47.8% during the first quarter. Royce & Associates LP now owns 235,529 shares of the textile maker’s stock valued at $9,796,000 after acquiring an additional 76,211 shares during the last quarter. Kennedy Capital Management Inc. lifted its position in shares of Rocky Brands by 7.7% in the fourth quarter. Kennedy Capital Management Inc. now owns 209,756 shares of the textile maker’s stock valued at $8,348,000 after acquiring an additional 14,962 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Rocky Brands by 347.4% in the first quarter. Diamond Hill Capital Management Inc. now owns 89,862 shares of the textile maker’s stock worth $3,737,000 after acquiring an additional 69,778 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Rocky Brands by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 67,530 shares of the textile maker’s stock valued at $2,809,000 after purchasing an additional 463 shares during the last quarter. 76.97% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Trading Up 4.0 %

Shares of RCKY opened at $27.12 on Friday. Rocky Brands, Inc. has a 12-month low of $23.50 and a 12-month high of $56.96. The firm has a market capitalization of $198.25 million, a P/E ratio of 9.86 and a beta of 0.77. The firm has a 50-day moving average price of $30.18 and a 200 day moving average price of $36.06. The company has a current ratio of 2.56, a quick ratio of 0.81 and a debt-to-equity ratio of 1.38.

Rocky Brands (NASDAQ:RCKYGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The textile maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.44). Rocky Brands had a net margin of 3.27% and a return on equity of 13.62%. During the same period last year, the firm earned $0.99 earnings per share.

Rocky Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, August 31st. Rocky Brands’s dividend payout ratio is presently 22.55%.

Insider Activity

In related news, Director James L. Stewart bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average price of $27.93 per share, for a total transaction of $27,930.00. Following the acquisition, the director now owns 18,840 shares of the company’s stock, valued at $526,201.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 9.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RCKY shares. Robert W. Baird lowered their target price on shares of Rocky Brands from $47.00 to $32.00 in a research note on Wednesday, August 3rd. StockNews.com cut shares of Rocky Brands from a “hold” rating to a “sell” rating in a research note on Friday. B. Riley decreased their target price on shares of Rocky Brands to $43.00 in a research note on Tuesday, August 9th. Finally, BTIG Research dropped their price target on Rocky Brands from $73.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd.

Rocky Brands Company Profile

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

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