Tower Research Capital LLC TRC Increases Stock Holdings in Rocky Brands, Inc. (NASDAQ:RCKY)

Tower Research Capital LLC TRC boosted its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 94.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,700 shares of the textile maker’s stock after purchasing an additional 826 shares during the period. Tower Research Capital LLC TRC’s holdings in Rocky Brands were worth $51,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RCKY. SG Americas Securities LLC purchased a new position in shares of Rocky Brands during the 4th quarter valued at about $118,000. New York State Common Retirement Fund lifted its position in shares of Rocky Brands by 1,793.8% during the 4th quarter. New York State Common Retirement Fund now owns 4,564 shares of the textile maker’s stock valued at $138,000 after buying an additional 4,323 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Rocky Brands during the 4th quarter valued at about $235,000. Quadrature Capital Ltd purchased a new position in shares of Rocky Brands during the 3rd quarter valued at about $261,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Rocky Brands during the 4th quarter valued at about $322,000. 75.06% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Price Performance

RCKY traded down $1.30 on Tuesday, hitting $25.77. 45,216 shares of the company’s stock traded hands, compared to its average volume of 27,626. The company’s 50 day simple moving average is $26.82 and its 200-day simple moving average is $25.82. The firm has a market cap of $191.21 million, a price-to-earnings ratio of 18.15 and a beta of 1.97. Rocky Brands, Inc. has a one year low of $11.77 and a one year high of $32.38. The company has a current ratio of 3.61, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Wednesday, February 28th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.09. The company had revenue of $125.95 million for the quarter, compared to the consensus estimate of $128.90 million. Rocky Brands had a return on equity of 6.70% and a net margin of 2.26%. As a group, research analysts anticipate that Rocky Brands, Inc. will post 1.96 EPS for the current year.

Rocky Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.41%. The ex-dividend date was Friday, March 1st. Rocky Brands’s dividend payout ratio (DPR) is presently 43.66%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RCKY shares. B. Riley lifted their price objective on Rocky Brands from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. StockNews.com downgraded Rocky Brands from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th.

About Rocky Brands

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.