Two Sigma Investments LP Grows Stake in Rocky Brands, Inc. (NASDAQ:RCKY)

Two Sigma Investments LP increased its stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,088 shares of the textile maker’s stock after buying an additional 459 shares during the quarter. Two Sigma Investments LP owned about 0.18% of Rocky Brands worth $298,000 as of its most recent SEC filing.

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

Rocky Brands Price Performance

Shares of NASDAQ:RCKY opened at $22.91 on Wednesday. Rocky Brands, Inc. has a one year low of $11.93 and a one year high of $38.31. The stock has a market cap of $170.93 million, a PE ratio of 12.87 and a beta of 2.37. The business’s fifty day moving average price is $18.17 and its two-hundred day moving average price is $20.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79.

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

Rocky Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.155 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 2.71%. Rocky Brands’s dividend payout ratio (DPR) is 33.88%.

Wall Street Analysts Forecast Growth

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

About Rocky Brands

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.