Tieton Capital Management LLC Takes $4 Million Position in Rocky Brands, Inc. $RCKY

Tieton Capital Management LLC bought a new position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 96,984 shares of the textile maker’s stock, valued at approximately $4,000,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in Rocky Brands in the 2nd quarter worth about $21,559,000. Raymond James Financial Inc. raised its position in shares of Rocky Brands by 24.3% in the second quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock valued at $12,371,000 after buying an additional 109,012 shares in the last quarter. LSV Asset Management boosted its stake in shares of Rocky Brands by 160.1% in the fourth quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock valued at $4,293,000 after buying an additional 90,103 shares during the period. Aristides Capital LLC grew its position in Rocky Brands by 264.6% during the first quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker’s stock worth $4,365,000 after buying an additional 81,822 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Rocky Brands in the 2nd quarter valued at $2,856,000. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Stock Performance

Shares of RCKY stock opened at $47.05 on Thursday. The firm has a market capitalization of $352.40 million, a price-to-earnings ratio of 12.32 and a beta of 2.36. The company has a current ratio of 2.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $43.13 and its 200-day moving average price is $40.19. Rocky Brands, Inc. has a 12 month low of $25.76 and a 12 month high of $53.01.

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

Rocky Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 1st. Rocky Brands’s payout ratio is 17.80%.

Insider Buying and Selling at Rocky Brands

In other news, Director G Courtney Haning sold 3,000 shares of the 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 owned 19,750 shares of the company’s stock, valued at approximately $968,935. This represents a 13.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tracie A. Winbigler sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $47.45, for a total value of $142,350.00. Following the transaction, the director owned 14,246 shares of the company’s stock, valued at $675,972.70. This trade represents a 17.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,483 shares of company stock worth $763,214 in the last three months. 7.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RCKY. BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. Weiss Ratings raised shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Robert W. Baird boosted their target price on shares of Rocky Brands from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 9th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Rocky Brands presently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Rocky Brands Company 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.