Voya Investment Management LLC Boosts Stock Position in Rocky Brands, Inc. $RCKY

Voya Investment Management LLC increased its holdings in Rocky Brands, Inc. (NASDAQ:RCKY) by 46.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,801 shares of the textile maker’s stock after buying an additional 4,676 shares during the period. Voya Investment Management LLC owned 0.20% of Rocky Brands worth $257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. raised its position in shares of Rocky Brands by 6.0% in the first quarter. Raymond James Financial Inc. now owns 448,490 shares of the textile maker’s stock worth $7,790,000 after buying an additional 25,551 shares in the last quarter. American Century Companies Inc. raised its position in shares of Rocky Brands by 10.0% in the first quarter. American Century Companies Inc. now owns 235,411 shares of the textile maker’s stock worth $4,089,000 after buying an additional 21,420 shares in the last quarter. North Star Investment Management Corp. raised its position in shares of Rocky Brands by 1.9% in the first quarter. North Star Investment Management Corp. now owns 218,625 shares of the textile maker’s stock worth $3,798,000 after buying an additional 4,000 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position 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 worth $2,372,000 after buying an additional 22,596 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Rocky Brands in the first quarter worth $606,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Stock Down 0.7%

RCKY opened at $29.53 on Tuesday. The stock has a market cap of $220.59 million, a PE ratio of 11.91 and a beta of 2.41. The company has a quick ratio of 0.79, a current ratio of 2.76 and a debt-to-equity ratio of 0.52. Rocky Brands, Inc. has a 52 week low of $11.93 and a 52 week high of $32.01. The business’s fifty day simple moving average is $27.79 and its 200 day simple moving average is $22.41.

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

Rocky Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. Rocky Brands’s dividend payout ratio (DPR) is 25.00%.

Wall Street Analysts Forecast Growth

RCKY has been the topic of a number of recent analyst reports. Robert W. Baird upgraded Rocky Brands from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $30.00 to $40.00 in a research report on Tuesday, August 26th. Baird R W upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Strong Buy” and an average price target of $40.00.

Insider Buying and Selling

In other news, Director William L. Jordan sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $30.10, for a total transaction of $150,500.00. Following the transaction, the director directly owned 18,683 shares of the company’s stock, valued at approximately $562,358.30. This trade represents a 21.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G Courtney Haning sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $31.00, for a total value of $155,000.00. Following the transaction, the director directly owned 19,482 shares in the company, valued at $603,942. This trade represents a 20.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $754,400 over the last three months. 5.10% of the stock is owned by corporate insiders.

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.