Walleye Capital LLC Acquires New Holdings in Rocky Brands, Inc. $RCKY

Walleye Capital LLC bought a new stake in Rocky Brands, Inc. (NASDAQ:RCKY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,320 shares of the textile maker’s stock, valued at approximately $516,000. Walleye Capital LLC owned about 0.18% of Rocky Brands as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RCKY. Allspring Global Investments Holdings LLC increased its position in Rocky Brands by 42.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 83,652 shares of the textile maker’s stock worth $2,398,000 after buying an additional 24,832 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in Rocky Brands by 19.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 129,890 shares of the textile maker’s stock valued at $3,810,000 after buying an additional 21,028 shares in the last quarter. LSV Asset Management lifted its position 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 worth $4,293,000 after buying an additional 90,103 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Rocky Brands in the first quarter worth about $233,000. Finally, James Investment Research Inc. acquired a new stake in shares of Rocky Brands in the first quarter worth about $211,000. 75.06% of the stock is owned by institutional investors.

Rocky Brands Stock Performance

NASDAQ:RCKY opened at $40.37 on Friday. The firm has a market capitalization of $304.39 million, a PE ratio of 16.34 and a beta of 2.37. Rocky Brands, Inc. has a 1 year low of $22.61 and a 1 year high of $48.70. The company has a current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The firm’s fifty day simple moving average is $39.32 and its 200 day simple moving average is $38.12.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, April 28th. The textile maker reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Rocky Brands had a return on equity of 8.43% and a net margin of 3.78%.The firm had revenue of $124.40 million for the quarter, compared to analyst estimates of $122.42 million.

Rocky Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, June 1st. This is a positive change from Rocky Brands’s previous quarterly dividend of $0.15. Rocky Brands’s dividend payout ratio is currently 27.53%.

Analyst Upgrades and Downgrades

RCKY has been the topic of a number of analyst reports. Wall Street Zen lowered Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Rocky Brands in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Rocky Brands has a consensus rating of “Hold” and an average price target of $42.00.

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.