North Star Investment Management Corp. Sells 35,950 Shares of Rocky Brands, Inc. $RCKY

North Star Investment Management Corp. lowered its stake in Rocky Brands, Inc. (NASDAQ:RCKY) by 18.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 154,175 shares of the textile maker’s stock after selling 35,950 shares during the quarter. North Star Investment Management Corp.’s holdings in Rocky Brands were worth $5,970,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in Rocky Brands by 6.8% during the first quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock valued at $602,000 after buying an additional 2,205 shares during the last quarter. Strs Ohio bought a new position in shares of Rocky Brands during the first quarter valued at $92,000. Geode Capital Management LLC increased its holdings in shares of Rocky Brands by 0.8% during the second quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock valued at $3,782,000 after acquiring an additional 1,303 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Rocky Brands in the 2nd quarter worth about $572,000. Finally, First Trust Advisors LP raised its position in shares of Rocky Brands by 4.2% in the 2nd quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock worth $534,000 after purchasing an additional 963 shares during the last quarter. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Stock Performance

RCKY stock opened at $41.28 on Monday. The stock’s 50 day simple moving average is $38.65 and its 200 day simple moving average is $36.71. The company has a current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. Rocky Brands, Inc. has a 12-month low of $21.74 and a 12-month high of $48.70. The stock has a market capitalization of $311.29 million, a PE ratio of 16.71 and a beta of 2.38.

Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Tuesday, April 28th. The textile maker reported $0.24 EPS 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 business had revenue of $124.40 million during the quarter, compared to the consensus estimate of $122.42 million.

Rocky Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. This is a boost from Rocky Brands’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 1st. Rocky Brands’s payout ratio is 27.53%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RCKY shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. Wall Street Zen lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.00.

Rocky Brands 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.