Waterfront Wealth Inc. Buys Shares of 18,882 Rocky Brands, Inc. (NASDAQ:RCKY)

Waterfront Wealth Inc. bought a new stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,882 shares of the textile maker’s stock, valued at approximately $431,000.

Other hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in Rocky Brands in the 3rd quarter worth approximately $224,000. Yarger Wealth Strategies LLC boosted its position in shares of Rocky Brands by 6.0% in the fourth quarter. Yarger Wealth Strategies LLC now owns 10,873 shares of the textile maker’s stock worth $248,000 after purchasing an additional 614 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Rocky Brands by 133.8% in the third quarter. JPMorgan Chase & Co. now owns 8,182 shares of the textile maker’s stock worth $261,000 after purchasing an additional 4,683 shares in the last quarter. Barclays PLC raised its position in shares of Rocky Brands by 292.3% during the 3rd 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 during the period. Finally, Summit Global Investments purchased a new position in shares of Rocky Brands during the 3rd quarter valued at $341,000. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Stock Performance

RCKY opened at $23.09 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79. The stock has a market capitalization of $172.02 million, a price-to-earnings ratio of 12.97 and a beta of 2.10. The company has a fifty day moving average of $23.66 and a 200 day moving average of $25.87. Rocky Brands, Inc. has a fifty-two week low of $19.65 and a fifty-two week high of $40.14.

Rocky Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.155 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.69%. Rocky Brands’s payout ratio is 34.83%.

Analysts Set New Price Targets

A number of brokerages have issued reports on RCKY. Robert W. Baird cut their price target on Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com downgraded Rocky Brands from a “buy” rating to a “hold” rating in a research note on Saturday, February 8th.

Rocky Brands Company Profile

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.