Rocky Brands Inc. (RCKY) Declares $0.11 Quarterly Dividend
Rocky Brands Inc. (NASDAQ:RCKY) announced a quarterly dividend on Wednesday, November 16th. Shareholders of record on Monday, November 28th will be paid a dividend of 0.11 per share on Friday, December 9th. This represents a $0.44 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Wednesday, November 23rd.
Shares of Rocky Brands (NASDAQ:RCKY) opened at 10.90 on Thursday. The firm has a 50-day moving average of $10.52 and a 200-day moving average of $11.00. Rocky Brands has a one year low of $9.67 and a one year high of $13.95. The firm’s market capitalization is $80.94 million.
Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.01. Rocky Brands had a positive return on equity of 0.45% and a negative net margin of 0.05%. The company had revenue of $73.20 million for the quarter, compared to analyst estimates of $73.34 million. On average, equities analysts predict that Rocky Brands will post $0.18 earnings per share for the current fiscal year.
Several research analysts have issued reports on RCKY shares. B. Riley reiterated a “buy” rating and set a $14.00 price objective on shares of Rocky Brands in a research note on Wednesday, July 27th. Zacks Investment Research lowered Rocky Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 3rd. Finally, Robert W. Baird raised their target price on Rocky Brands from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th.
In other Rocky Brands news, insider Curtis A. Loveland bought 2,500 shares of the stock in a transaction dated Wednesday, August 24th. The stock was bought at an average cost of $10.30 per share, for a total transaction of $25,750.00. Following the completion of the purchase, the insider now owns 80,153 shares in the company, valued at approximately $825,575.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glen E. Corlett bought 5,000 shares of the stock in a transaction dated Wednesday, August 31st. The stock was acquired at an average price of $10.70 per share, with a total value of $53,500.00. Following the completion of the purchase, the director now owns 23,692 shares of the company’s stock, valued at approximately $253,504.40. The disclosure for this purchase can be found here. 8.90% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors raised its stake in shares of Rocky Brands by 377.8% in the second quarter. Nationwide Fund Advisors now owns 9,232 shares of the company’s stock worth $105,000 after buying an additional 7,300 shares during the last quarter. Eagle Global Advisors LLC purchased a new stake in shares of Rocky Brands during the second quarter worth approximately $118,000. TFS Capital LLC purchased a new stake in shares of Rocky Brands during the second quarter worth approximately $135,000. D. E. Shaw & Co. Inc. raised its stake in shares of Rocky Brands by 21.2% in the third quarter. D. E. Shaw & Co. Inc. now owns 29,765 shares of the company’s stock worth $315,000 after buying an additional 5,209 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Rocky Brands by 790.3% in the second quarter. Franklin Resources Inc. now owns 138,000 shares of the company’s stock worth $1,576,000 after buying an additional 122,500 shares during the last quarter. Institutional investors own 50.12% of the company’s stock.
About Rocky Brands
Rocky Brands, Inc is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military.
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