Rocky Brands (NASDAQ:RCKY) Cut to Hold at StockNews.com

StockNews.com cut shares of Rocky Brands (NASDAQ:RCKY) from a buy rating to a hold rating in a research report released on Saturday.

Separately, Robert W. Baird reduced their price objective on Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, October 31st.

Rocky Brands Stock Down 0.4 %

RCKY opened at $23.40 on Friday. The company’s 50-day moving average price is $23.46 and its two-hundred day moving average price is $26.36. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62. Rocky Brands has a twelve month low of $19.65 and a twelve month high of $40.14. The stock has a market cap of $174.42 million, a price-to-earnings ratio of 13.15 and a beta of 2.10.

Rocky Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.62 dividend on an annualized basis and a yield of 2.65%. Rocky Brands’s dividend payout ratio is presently 34.83%.

Hedge Funds Weigh In On Rocky Brands

Several large investors have recently modified their holdings of RCKY. Dynamic Technology Lab Private Ltd bought a new position in Rocky Brands in the 3rd quarter worth approximately $224,000. JPMorgan Chase & Co. lifted its position in shares of Rocky Brands by 133.8% during the third quarter. JPMorgan Chase & Co. now owns 8,182 shares of the textile maker’s stock worth $261,000 after acquiring an additional 4,683 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Rocky Brands by 9.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 9,228 shares of the textile maker’s stock worth $210,000 after acquiring an additional 820 shares during the period. Barclays PLC grew its position in shares of Rocky Brands by 292.3% in the third quarter. Barclays PLC now owns 9,757 shares of the textile maker’s stock valued at $311,000 after purchasing an additional 7,270 shares in the last quarter. Finally, Inspire Advisors LLC bought a new stake in shares of Rocky Brands during the 3rd quarter valued at $339,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

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.