Yarger Wealth Strategies LLC Purchases 1,150 Shares of Rocky Brands, Inc. $RCKY

Yarger Wealth Strategies LLC boosted its position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 9.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,917 shares of the textile maker’s stock after purchasing an additional 1,150 shares during the quarter. Yarger Wealth Strategies LLC owned about 0.17% of Rocky Brands worth $287,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Rocky Brands by 8.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 21,138 shares of the textile maker’s stock valued at $367,000 after buying an additional 1,563 shares during the last quarter. Empowered Funds LLC lifted its position in Rocky Brands by 6.8% in the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock valued at $602,000 after acquiring an additional 2,205 shares in the last quarter. Bank of America Corp DE boosted its stake in 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 valued at $202,000 after purchasing an additional 3,025 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of Rocky Brands by 1.9% in the 1st quarter. North Star Investment Management Corp. now owns 218,625 shares of the textile maker’s stock worth $3,798,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Rocky Brands by 46.2% in the first quarter. Voya Investment Management LLC now owns 14,801 shares of the textile maker’s stock worth $257,000 after purchasing an additional 4,676 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rocky Brands news, Director William L. Jordan sold 5,000 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $30.10, for a total transaction of $150,500.00. Following the completion of the sale, the director directly owned 18,683 shares of the company’s stock, valued at $562,358.30. This trade represents a 21.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tracie A. Winbigler sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $29.95, for a total transaction of $149,750.00. Following the completion of the transaction, the director directly owned 6,978 shares in the company, valued at $208,991.10. This trade represents a 41.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $754,400 in the last 90 days. 5.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Robert W. Baird raised Rocky Brands from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $30.00 to $40.00 in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rocky Brands in a report on Wednesday, October 8th. Finally, Baird R W raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Rocky Brands has a consensus rating of “Buy” and an average price target of $40.00.

Rocky Brands Stock Performance

RCKY opened at $26.58 on Monday. The company has a 50 day simple moving average of $28.61 and a two-hundred day simple moving average of $23.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 0.79. The firm has a market cap of $198.50 million, a P/E ratio of 10.72 and a beta of 2.44. Rocky Brands, Inc. has a 1-year low of $11.93 and a 1-year high of $31.38.

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

Rocky Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 2.3%. Rocky Brands’s payout ratio is currently 25.00%.

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.