Rocky Brands, Inc. (NASDAQ:RCKY) Stock Position Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Rocky Brands, Inc. (NASDAQ:RCKY) by 180.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,931 shares of the textile maker’s stock after acquiring an additional 14,749 shares during the period. JPMorgan Chase & Co. owned 0.31% of Rocky Brands worth $523,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RCKY. Los Angeles Capital Management LLC boosted its position in Rocky Brands by 9.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,228 shares of the textile maker’s stock valued at $210,000 after purchasing an additional 820 shares during the period. Barclays PLC boosted its holdings in shares of Rocky Brands by 292.3% during the third quarter. Barclays PLC now owns 9,757 shares of the textile maker’s stock valued at $311,000 after acquiring an additional 7,270 shares during the period. Yarger Wealth Strategies LLC boosted its holdings in shares of Rocky Brands by 6.0% during the fourth quarter. Yarger Wealth Strategies LLC now owns 10,873 shares of the textile maker’s stock valued at $248,000 after acquiring an additional 614 shares during the period. Jane Street Group LLC grew its position in shares of Rocky Brands by 25.9% during the third quarter. Jane Street Group LLC now owns 11,631 shares of the textile maker’s stock worth $371,000 after acquiring an additional 2,392 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Rocky Brands in the 4th quarter worth about $277,000. 75.06% of the stock is owned by institutional investors.

Rocky Brands Price Performance

Shares of NASDAQ RCKY opened at $21.39 on Thursday. The stock has a market cap of $159.63 million, a P/E ratio of 12.02 and a beta of 2.25. The firm’s 50-day simple moving average is $16.78 and its 200 day simple moving average is $21.28. Rocky Brands, Inc. has a fifty-two week low of $11.93 and a fifty-two week high of $40.14. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings results on Tuesday, April 29th. The textile maker reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.21. The company had revenue of $114.07 million for the quarter, compared to the consensus estimate of $112.67 million. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%.

Rocky Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Monday, March 3rd. Rocky Brands’s payout ratio is currently 41.06%.

Analyst Ratings Changes

RCKY has been the subject of several recent analyst reports. StockNews.com cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Saturday, February 8th. Robert W. Baird increased their price objective on Rocky Brands from $16.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday.

Rocky Brands 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.