Empowered Funds LLC Acquires 1,474 Shares of Rocky Brands, Inc. (NASDAQ:RCKY)

Empowered Funds LLC increased its holdings in Rocky Brands, Inc. (NASDAQ:RCKY) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,994 shares of the textile maker’s stock after purchasing an additional 1,474 shares during the quarter. Empowered Funds LLC’s holdings in Rocky Brands were worth $987,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RCKY. Victory Capital Management Inc. boosted its position in Rocky Brands by 29.5% during the second quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 618 shares during the last quarter. Yarger Wealth Strategies LLC boosted its position in Rocky Brands by 7.7% during the second quarter. Yarger Wealth Strategies LLC now owns 9,737 shares of the textile maker’s stock valued at $360,000 after acquiring an additional 692 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Rocky Brands by 59.5% during the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock valued at $97,000 after acquiring an additional 1,332 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Rocky Brands by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock valued at $2,637,000 after acquiring an additional 2,962 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Rocky Brands during the second quarter valued at $149,000. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Price Performance

Shares of NASDAQ RCKY opened at $21.82 on Friday. The firm’s 50-day moving average price is $27.04 and its 200-day moving average price is $31.53. Rocky Brands, Inc. has a 1-year low of $19.65 and a 1-year high of $40.14. The firm has a market capitalization of $162.65 million, a P/E ratio of 12.26 and a beta of 2.13. The company has a current ratio of 2.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.22). Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%. The company had revenue of $114.55 million for the quarter.

Rocky Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.84%. Rocky Brands’s dividend payout ratio is presently 34.83%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird dropped their price objective on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st.

Rocky Brands Company 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.