31,890 Shares in Rocky Brands, Inc. $RCKY Purchased by Diamond Hill Capital Management LLC Investment Advisor

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 31,890 shares of the textile maker’s stock, valued at approximately $1,315,000.

Several other hedge funds have also bought and sold shares of the business. State of Alaska Department of Revenue bought a new position in shares of Rocky Brands during the fourth quarter valued at approximately $35,000. Strs Ohio bought a new stake in shares of Rocky Brands in the 1st quarter worth approximately $92,000. BNP Paribas Financial Markets boosted its position in shares of Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after purchasing an additional 2,903 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Rocky Brands in the 1st quarter worth approximately $149,000. Finally, Deutsche Bank AG grew its stake in shares of Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after buying an additional 464 shares during the last quarter. Institutional investors own 75.06% of the company’s stock.

Insiders Place Their Bets

In related news, Director G Courtney Haning sold 3,000 shares of Rocky Brands stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $49.06, for a total value of $147,180.00. Following the completion of the sale, the director directly owned 19,750 shares in the company, valued at approximately $968,935. This trade represents a 13.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Curtis A. Loveland sold 3,483 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $50.54, for a total value of $176,030.82. Following the completion of the transaction, the insider directly owned 92,610 shares of the company’s stock, valued at approximately $4,680,509.40. This trade represents a 3.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 15,483 shares of company stock valued at $763,214. Company insiders own 7.60% of the company’s stock.

Rocky Brands Trading Down 1.8%

NASDAQ:RCKY opened at $46.68 on Tuesday. Rocky Brands, Inc. has a 52 week low of $25.76 and a 52 week high of $53.01. The stock has a market cap of $349.63 million, a price-to-earnings ratio of 12.22 and a beta of 2.35. The company’s 50 day moving average price is $42.81 and its 200-day moving average price is $39.98. The company has a quick ratio of 1.12, a current ratio of 2.97 and a debt-to-equity ratio of 0.43.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, July 28th. The textile maker reported $1.90 EPS for the quarter, beating the consensus estimate of $0.35 by $1.55. The business had revenue of $118.37 million for the quarter, compared to the consensus estimate of $110.08 million. Rocky Brands had a return on equity of 12.28% and a net margin of 5.72%.

Analyst Ratings Changes

RCKY has been the subject of a number of analyst reports. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Weiss Ratings raised Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Wall Street Zen raised Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 9th. Finally, Robert W. Baird raised their price target on Rocky Brands from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Rocky Brands currently has an average rating of “Moderate Buy” and an average price target of $56.00.

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.