Hillsdale Investment Management Inc. Has $6.14 Million Holdings in Rocky Brands, Inc. $RCKY

Hillsdale Investment Management Inc. decreased its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 12.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,645 shares of the textile maker’s stock after selling 21,700 shares during the period. Hillsdale Investment Management Inc. owned approximately 2.10% of Rocky Brands worth $6,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC grew its holdings in Rocky Brands by 6.8% during the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock worth $602,000 after acquiring an additional 2,205 shares during the period. Strs Ohio bought a new stake in shares of Rocky Brands during the 1st quarter valued at about $92,000. Geode Capital Management LLC boosted its position in shares of Rocky Brands by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock valued at $3,782,000 after purchasing an additional 1,303 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Rocky Brands during the second quarter worth approximately $572,000. Finally, First Trust Advisors LP grew its stake in Rocky Brands by 4.2% during the second quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock worth $534,000 after purchasing an additional 963 shares during the period. Institutional investors and hedge funds own 75.06% of the company’s stock.

Rocky Brands Trading Down 1.1%

RCKY opened at $39.77 on Wednesday. The company has a fifty day moving average price of $38.33 and a two-hundred day moving average price of $37.55. Rocky Brands, Inc. has a 1-year low of $22.34 and a 1-year high of $48.70. The company has a market cap of $299.87 million, a P/E ratio of 16.10 and a beta of 2.37. The company has a current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings data on Tuesday, April 28th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $124.40 million for the quarter, compared to the consensus estimate of $122.42 million. Rocky Brands had a return on equity of 8.43% and a net margin of 3.78%.

Rocky Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. This is a boost from Rocky Brands’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 1st. Rocky Brands’s payout ratio is 27.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RCKY shares. Wall Street Zen downgraded Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Rocky Brands in a report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Rocky Brands currently has an average rating of “Hold” and an average target price of $42.00.

About Rocky Brands

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.