Hillsdale Investment Management Inc. Increases Position in Rocky Brands, Inc. $RCKY

Hillsdale Investment Management Inc. lifted its position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 48.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 183,592 shares of the textile maker’s stock after buying an additional 60,330 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Rocky Brands were worth $5,469,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Aristides Capital LLC grew its holdings in Rocky Brands by 52.6% during the 2nd quarter. Aristides Capital LLC now owns 29,943 shares of the textile maker’s stock valued at $664,000 after buying an additional 10,317 shares in the last quarter. SummerHaven Investment Management LLC purchased a new position in shares of Rocky Brands in the 3rd quarter worth $1,037,000. Allspring Global Investments Holdings LLC bought a new stake in Rocky Brands during the third quarter worth approximately $1,772,000. Russell Investments Group Ltd. raised its holdings in Rocky Brands by 686.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 85,553 shares of the textile maker’s stock valued at $1,898,000 after buying an additional 74,668 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Rocky Brands in the 2nd quarter worth about $323,000. Institutional investors own 75.06% of the company’s stock.

Analysts Set New Price Targets

RCKY has been the subject of a number of research analyst reports. Robert W. Baird set a $42.00 price objective on shares of Rocky Brands in a report on Wednesday, October 29th. Citigroup reissued a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Wall Street Zen raised Rocky Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rocky Brands in a research report on Monday, December 29th. Finally, BTIG Research restated 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 issued a Hold rating to the company. According to MarketBeat.com, Rocky Brands has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Rocky Brands Stock Up 0.8%

RCKY stock opened at $33.75 on Friday. The stock has a market capitalization of $252.79 million, a PE ratio of 12.32 and a beta of 2.72. Rocky Brands, Inc. has a 52 week low of $11.93 and a 52 week high of $34.61. The company has a quick ratio of 0.88, a current ratio of 2.74 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $31.70 and a 200 day moving average of $29.95.

Rocky Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.155 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 1.8%. Rocky Brands’s dividend payout ratio (DPR) is 22.63%.

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.