Rocky Brands, Inc. (RCKY) to Issue $0.11 Quarterly Dividend
Rocky Brands, Inc. (NASDAQ:RCKY) declared a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Stockholders of record on Monday, November 27th will be paid a dividend of 0.11 per share by the textile maker on Monday, December 11th. This represents a $0.44 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, November 24th.
Rocky Brands (NASDAQ RCKY) opened at $19.75 on Friday. The firm has a market capitalization of $136.60, a P/E ratio of 18.97 and a beta of 0.71. Rocky Brands has a twelve month low of $10.25 and a twelve month high of $20.10. The company has a current ratio of 4.91, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08.
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In other Rocky Brands news, Director Robert Burton Jr. Moore acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were purchased at an average cost of $13.80 per share, for a total transaction of $69,000.00. Following the completion of the acquisition, the director now owns 13,619 shares of the company’s stock, valued at approximately $187,942.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.
An institutional investor recently raised its position in Rocky Brands stock. Northern Trust Corp boosted its holdings in Rocky Brands, Inc. (NASDAQ:RCKY) by 20.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,996 shares of the textile maker’s stock after acquiring an additional 4,643 shares during the period. Northern Trust Corp owned 0.36% of Rocky Brands worth $363,000 at the end of the most recent reporting period. 57.25% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a report on Friday, October 27th. TheStreet upgraded Rocky Brands from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. Robert W. Baird boosted their target price on Rocky Brands from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, ValuEngine upgraded Rocky Brands from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $15.00.
Rocky Brands Company Profile
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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