Rocky Brands, Inc. $RCKY Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in Rocky Brands, Inc. (NASDAQ:RCKY) by 8.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,138 shares of the textile maker’s stock after buying an additional 1,563 shares during the period. Charles Schwab Investment Management Inc. owned 0.28% of Rocky Brands worth $367,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Rocky Brands by 185.9% in the fourth quarter. Millennium Management LLC now owns 30,913 shares of the textile maker’s stock valued at $705,000 after purchasing an additional 20,100 shares during the period. GSA Capital Partners LLP purchased a new position in Rocky Brands during the first quarter worth about $606,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Rocky Brands by 125.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 29,412 shares of the textile maker’s stock valued at $671,000 after purchasing an additional 16,371 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Rocky Brands by 19.8% in the first quarter. Diamond Hill Capital Management Inc. now owns 136,554 shares of the textile maker’s stock valued at $2,372,000 after purchasing an additional 22,596 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in Rocky Brands by 13.9% in the fourth quarter. Nuveen Asset Management LLC now owns 19,862 shares of the textile maker’s stock valued at $453,000 after acquiring an additional 2,431 shares in the last quarter. 75.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rocky Brands

In other news, Director William L. Jordan sold 5,000 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $30.10, for a total value of $150,500.00. Following the completion of the transaction, the director owned 18,683 shares of the company’s stock, valued at approximately $562,358.30. This represents a 21.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director G Courtney Haning sold 5,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $31.00, for a total value of $155,000.00. Following the completion of the transaction, the director directly owned 19,482 shares of the company’s stock, valued at approximately $603,942. The trade was a 20.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,000 shares of company stock worth $456,000 over the last ninety days. 5.10% of the stock is owned by corporate insiders.

Rocky Brands Trading Down 2.7%

NASDAQ RCKY opened at $29.18 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 0.79. Rocky Brands, Inc. has a 12 month low of $11.93 and a 12 month high of $33.04. The company has a market cap of $217.97 million, a P/E ratio of 11.77 and a beta of 2.41. The company has a 50-day moving average of $25.58 and a 200-day moving average of $21.31.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, July 29th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.31. The business had revenue of $105.65 million during the quarter, compared to analysts’ expectations of $102.54 million. Rocky Brands had a return on equity of 10.41% and a net margin of 4.03%.

Rocky Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.62 annualized dividend and a yield of 2.1%. Rocky Brands’s dividend payout ratio (DPR) is currently 25.00%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RCKY. Wall Street Zen cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Baird R W raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Finally, Robert W. Baird upgraded shares of Rocky Brands from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $30.00 to $40.00 in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat.com, Rocky Brands has an average rating of “Strong Buy” and a consensus price target of $40.00.

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.