Pacific Ridge Capital Partners LLC Sells 9,839 Shares of Rocky Brands, Inc. (RCKY)
Pacific Ridge Capital Partners LLC cut its holdings in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 5.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,729 shares of the textile maker’s stock after selling 9,839 shares during the quarter. Pacific Ridge Capital Partners LLC owned 2.23% of Rocky Brands worth $2,229,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Marquette Asset Management Inc. increased its holdings in shares of Rocky Brands by 9.5% during the second quarter. Marquette Asset Management Inc. now owns 16,555 shares of the textile maker’s stock worth $223,000 after purchasing an additional 1,434 shares during the period. Wedge Capital Management L L P NC increased its holdings in shares of Rocky Brands by 14.4% during the first quarter. Wedge Capital Management L L P NC now owns 18,325 shares of the textile maker’s stock worth $212,000 after purchasing an additional 2,300 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Rocky Brands by 0.8% during the first quarter. Wells Fargo & Company MN now owns 355,164 shares of the textile maker’s stock worth $4,102,000 after purchasing an additional 2,991 shares during the period. North Star Investment Management Corp. increased its holdings in shares of Rocky Brands by 1.6% during the second quarter. North Star Investment Management Corp. now owns 316,524 shares of the textile maker’s stock worth $4,257,000 after purchasing an additional 5,000 shares during the period. Finally, Two Sigma Securities LLC bought a new position in shares of Rocky Brands during the first quarter worth approximately $122,000. 56.93% of the stock is currently owned by institutional investors.
Shares of Rocky Brands, Inc. (RCKY) opened at 13.15 on Monday. The company’s 50 day moving average is $13.50 and its 200 day moving average is $12.84. Rocky Brands, Inc. has a 52-week low of $9.95 and a 52-week high of $15.70. The firm has a market cap of $97.91 million, a price-to-earnings ratio of 35.44 and a beta of 0.58.
Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Tuesday, July 25th. The textile maker reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.18. The business had revenue of $58.46 million for the quarter, compared to analyst estimates of $61.70 million. Rocky Brands had a net margin of 1.06% and a return on equity of 4.02%. Analysts anticipate that Rocky Brands, Inc. will post $0.90 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Friday, August 25th. Rocky Brands’s dividend payout ratio (DPR) is presently 118.92%.
In other news, Director Robert Burton Jr. Moore bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were acquired at an average price of $13.80 per share, with a total value of $69,000.00. Following the acquisition, the director now owns 13,619 shares of the company’s stock, valued at approximately $187,942.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.
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RCKY has been the topic of several recent research reports. Robert W. Baird reaffirmed a “hold” rating and set a $13.00 target price on shares of Rocky Brands in a report on Sunday. Zacks Investment Research cut shares of Rocky Brands from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 22nd. TheStreet raised shares of Rocky Brands from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. Finally, ValuEngine raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $14.00.
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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