Raymond James Financial Services Advisors Inc. Invests $235,000 in Rocky Brands, Inc. (NASDAQ:RCKY)

Raymond James Financial Services Advisors Inc. bought a new position in Rocky Brands, Inc. (NASDAQ:RCKY) during the fourth quarter, HoldingsChannel reports. The fund bought 7,777 shares of the textile maker’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds also recently bought and sold shares of RCKY. SG Americas Securities LLC purchased a new stake in Rocky Brands in the fourth quarter worth about $118,000. Denali Advisors LLC grew its stake in shares of Rocky Brands by 92.0% during the 3rd quarter. Denali Advisors LLC now owns 16,700 shares of the textile maker’s stock valued at $245,000 after acquiring an additional 8,000 shares during the period. Quadrature Capital Ltd purchased a new stake in Rocky Brands in the 3rd quarter worth approximately $261,000. Manatuck Hill Partners LLC bought a new stake in Rocky Brands during the 3rd quarter worth approximately $588,000. Finally, Diamond Hill Capital Management Inc. lifted its holdings 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 purchasing an additional 16,727 shares in the last quarter. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RCKY. StockNews.com raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, April 17th. B. Riley increased their price target on Rocky Brands from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th.

Rocky Brands Trading Up 1.0 %

RCKY stock opened at $26.56 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.61 and a quick ratio of 1.24. Rocky Brands, Inc. has a 1-year low of $11.77 and a 1-year high of $32.38. The business has a 50 day simple moving average of $27.03 and a two-hundred day simple moving average of $25.43. The company has a market capitalization of $197.08 million, a price-to-earnings ratio of 18.70 and a beta of 1.97.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Wednesday, February 28th. The textile maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The firm had revenue of $125.95 million during the quarter, compared to analyst estimates of $128.90 million. Rocky Brands had a net margin of 2.26% and a return on equity of 6.70%. Research analysts anticipate that Rocky Brands, Inc. will post 1.96 EPS for the current fiscal year.

Rocky Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a $0.155 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.62 annualized dividend and a dividend yield of 2.33%. Rocky Brands’s dividend payout ratio (DPR) is 43.66%.

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.