Wells Fargo & Company MN Raises Stock Position in Rocky Brands Inc (NASDAQ:RCKY)
Wells Fargo & Company MN boosted its position in shares of Rocky Brands Inc (NASDAQ:RCKY) by 36.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 330,531 shares of the textile maker’s stock after acquiring an additional 88,114 shares during the period. Wells Fargo & Company MN owned 4.47% of Rocky Brands worth $9,016,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Bessemer Group Inc. grew its stake in Rocky Brands by 3.2% during the second quarter. Bessemer Group Inc. now owns 29,100 shares of the textile maker’s stock valued at $794,000 after acquiring an additional 900 shares in the last quarter. Strs Ohio grew its stake in Rocky Brands by 7.8% during the second quarter. Strs Ohio now owns 13,900 shares of the textile maker’s stock valued at $379,000 after acquiring an additional 1,000 shares in the last quarter. WINTON GROUP Ltd grew its stake in Rocky Brands by 7.4% in the 2nd quarter. WINTON GROUP Ltd now owns 14,811 shares of the textile maker’s stock worth $404,000 after buying an additional 1,023 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Rocky Brands by 502.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,422 shares of the textile maker’s stock worth $34,000 after buying an additional 1,186 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Rocky Brands by 2.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,875 shares of the textile maker’s stock worth $1,339,000 after buying an additional 1,350 shares in the last quarter. 73.58% of the stock is owned by institutional investors.
In other news, Director Michael L. Finn sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.89, for a total value of $59,780.00. Following the completion of the sale, the director now directly owns 25,717 shares in the company, valued at approximately $768,681.13. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James L. Stewart sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $30.17, for a total transaction of $75,425.00. Following the completion of the sale, the director now owns 11,508 shares of the company’s stock, valued at $347,196.36. The disclosure for this sale can be found here. In the last three months, insiders sold 5,000 shares of company stock valued at $151,185. Corporate insiders own 7.80% of the company’s stock.
Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings results on Wednesday, July 24th. The textile maker reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.06. Rocky Brands had a net margin of 5.91% and a return on equity of 9.68%. The business had revenue of $61.96 million during the quarter, compared to analysts’ expectations of $60.40 million. As a group, analysts anticipate that Rocky Brands Inc will post 2.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.14 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.85%. Rocky Brands’s dividend payout ratio is presently 29.79%.
RCKY has been the subject of a number of research reports. ValuEngine cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Zacks Investment Research raised shares of Rocky Brands from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Saturday, July 27th.
About Rocky Brands
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.
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