Diamond Hill Capital Management Inc. Sells 16,502 Shares of Rocky Brands, Inc. $RCKY

Diamond Hill Capital Management Inc. cut its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 17.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,595 shares of the textile maker’s stock after selling 16,502 shares during the quarter. Diamond Hill Capital Management Inc. owned about 1.05% of Rocky Brands worth $2,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Rocky Brands in the first quarter worth $92,000. Lazard Asset Management LLC bought a new position in Rocky Brands in the 2nd quarter worth about $155,000. Jump Financial LLC purchased a new stake in shares of Rocky Brands in the 2nd quarter valued at about $208,000. NewEdge Advisors LLC raised its holdings in shares of Rocky Brands by 1,060.4% in the 2nd quarter. NewEdge Advisors LLC now owns 11,407 shares of the textile maker’s stock valued at $253,000 after acquiring an additional 10,424 shares in the last quarter. Finally, Bailard Inc. bought a new stake in shares of Rocky Brands during the 2nd quarter valued at about $260,000. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Rocky Brands Stock Performance

NASDAQ:RCKY opened at $33.34 on Monday. The firm has a market cap of $249.72 million, a PE ratio of 12.17 and a beta of 2.72. Rocky Brands, Inc. has a fifty-two week low of $11.93 and a fifty-two week high of $34.36. 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 business has a 50 day moving average price of $31.02 and a 200-day moving average price of $29.40.

Rocky Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.155 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.9%. Rocky Brands’s payout ratio is presently 22.63%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RCKY. Citigroup reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Robert W. Baird set a $42.00 target price on Rocky Brands in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rocky Brands in a research report on Monday, December 29th. Wall Street Zen raised shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 25th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Rocky Brands Profile

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.