58,820 Shares in Rocky Brands, Inc. $RCKY Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC purchased a new stake in Rocky Brands, Inc. (NASDAQ:RCKY) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 58,820 shares of the textile maker’s stock, valued at approximately $1,772,000. Allspring Global Investments Holdings LLC owned approximately 0.79% of Rocky Brands at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Strs Ohio acquired a new position in Rocky Brands during the 1st quarter worth approximately $92,000. Lazard Asset Management LLC bought a new stake in shares of Rocky Brands during the second quarter valued at approximately $155,000. Jump Financial LLC acquired a new position in shares of Rocky Brands during the second quarter worth approximately $208,000. NewEdge Advisors LLC raised its position in shares of Rocky Brands by 1,060.4% during the second quarter. NewEdge Advisors LLC now owns 11,407 shares of the textile maker’s stock worth $253,000 after purchasing an additional 10,424 shares during the period. Finally, Bailard Inc. bought a new position in shares of Rocky Brands in the 2nd quarter worth $260,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

Rocky Brands Trading Up 5.0%

Shares of RCKY stock opened at $30.46 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 2.74. The company has a market capitalization of $228.27 million, a price-to-earnings ratio of 11.12 and a beta of 2.67. Rocky Brands, Inc. has a 52-week low of $11.93 and a 52-week high of $33.40. The company has a 50-day simple moving average of $29.82 and a two-hundred day simple moving average of $27.94.

Rocky Brands (NASDAQ:RCKY) last announced its earnings results on Tuesday, October 28th. The textile maker reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $122.54 million for the quarter, compared to the consensus estimate of $122.92 million. Rocky Brands had a return on equity of 11.03% and a net margin of 4.37%.

Rocky Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.62 annualized dividend and a dividend yield of 2.0%. Rocky Brands’s dividend payout ratio (DPR) is currently 22.63%.

Insider Buying and Selling at Rocky Brands

In related news, insider Curtis A. Loveland sold 2,162 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $32.39, for a total value of $70,027.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Byron Wortham sold 6,600 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $29.90, for a total transaction of $197,340.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 21,156 shares of company stock valued at $643,824. Insiders own 5.10% of the company’s stock.

Wall Street Analysts Forecast Growth

RCKY has been the topic of several research reports. Robert W. Baird set a $42.00 price objective on shares of Rocky Brands in a report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Rocky Brands in a report on Monday, December 29th. Citigroup reissued a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. Finally, BTIG Research restated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Rocky Brands presently has an average rating of “Moderate Buy” and an average target price of $42.00.

About Rocky Brands

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.