Renaissance Technologies LLC Grows Position in Rocky Brands, Inc. $RCKY

Renaissance Technologies LLC lifted its position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 39.1% during the first quarter, Holdings Channel.com reports. The firm owned 83,535 shares of the textile maker’s stock after acquiring an additional 23,500 shares during the period. Renaissance Technologies LLC’s holdings in Rocky Brands were worth $3,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RCKY. Empowered Funds LLC boosted its holdings in Rocky Brands by 6.8% during the first quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock worth $602,000 after buying an additional 2,205 shares in the last quarter. Strs Ohio acquired a new stake in Rocky Brands during the first quarter valued at $92,000. Geode Capital Management LLC increased its holdings in Rocky Brands by 0.8% in the second quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock valued at $3,782,000 after buying an additional 1,303 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Rocky Brands in the second quarter valued at $572,000. Finally, First Trust Advisors LP raised its position in shares of Rocky Brands by 4.2% in the second quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock worth $534,000 after acquiring an additional 963 shares during the period. 75.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rocky Brands

In other Rocky Brands news, Director William L. Jordan sold 989 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $51.87, for a total transaction of $51,299.43. Following the completion of the sale, the director directly owned 20,951 shares in the company, valued at approximately $1,086,728.37. The trade was a 4.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis A. Loveland sold 3,483 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $50.54, for a total value of $176,030.82. Following the transaction, the insider directly owned 92,610 shares of the company’s stock, valued at $4,680,509.40. The trade was a 3.62% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 15,483 shares of company stock valued at $763,214. 7.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RCKY has been the topic of several recent analyst reports. Weiss Ratings raised shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Wall Street Zen upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. Finally, Robert W. Baird increased their price target on Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rocky Brands has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Rocky Brands Stock Performance

NASDAQ:RCKY opened at $49.23 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 2.97. The stock has a market capitalization of $368.73 million, a PE ratio of 12.89 and a beta of 2.36. Rocky Brands, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $53.01. The company has a fifty day moving average of $41.65 and a two-hundred day moving average of $39.33.

Rocky Brands (NASDAQ:RCKY) last announced its earnings results 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. The business had revenue of $118.37 million for the quarter, compared to analyst estimates of $110.08 million. Rocky Brands had a net margin of 5.72% and a return on equity of 12.28%.

Rocky Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.4%. 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 payout ratio is presently 17.80%.

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.