Lazard Asset Management LLC Sells 12,167 Shares of Rocky Brands, Inc. (NASDAQ:RCKY)

Lazard Asset Management LLC trimmed its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 85.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,089 shares of the textile maker’s stock after selling 12,167 shares during the period. Lazard Asset Management LLC’s holdings in Rocky Brands were worth $47,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RCKY. Wells Fargo & Company MN raised its position in Rocky Brands by 31.2% in the 4th quarter. Wells Fargo & Company MN now owns 4,236 shares of the textile maker’s stock valued at $97,000 after buying an additional 1,007 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Rocky Brands by 51.8% during the 4th quarter. Bank of America Corp DE now owns 8,863 shares of the textile maker’s stock worth $202,000 after acquiring an additional 3,025 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Rocky Brands by 9.8% in the fourth 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 last quarter. Voya Investment Management LLC raised its holdings in shares of Rocky Brands by 43.9% in the fourth quarter. Voya Investment Management LLC now owns 10,125 shares of the textile maker’s stock valued at $231,000 after purchasing an additional 3,091 shares during the last quarter. Finally, Corton Capital Inc. bought a new stake in shares of Rocky Brands in the fourth quarter worth $243,000. 75.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RCKY has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. Robert W. Baird raised their price objective on Rocky Brands from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th.

Rocky Brands Stock Down 1.3%

NASDAQ:RCKY opened at $20.78 on Monday. Rocky Brands, Inc. has a twelve month low of $11.93 and a twelve month high of $39.70. The firm has a market capitalization of $155.04 million, a price-to-earnings ratio of 11.67 and a beta of 2.36. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $16.97 and its two-hundred day moving average price is $20.52.

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

Rocky Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.62 annualized dividend and a dividend yield of 2.98%. Rocky Brands’s dividend payout ratio is presently 33.88%.

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.