Bank of New York Mellon Corp raised its position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,928 shares of the textile maker’s stock after buying an additional 31 shares during the period. Bank of New York Mellon Corp’s holdings in Rocky Brands were worth $195,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Algert Global LLC increased its stake in Rocky Brands by 136.0% in the first quarter. Algert Global LLC now owns 59,990 shares of the textile maker’s stock worth $693,000 after buying an additional 34,567 shares during the period. Wedge Capital Management L L P NC increased its stake in Rocky Brands by 14.4% in 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 buying an additional 2,300 shares during the period. Wells Fargo & Company MN increased its stake in Rocky Brands by 0.8% in the first quarter. Wells Fargo & Company MN now owns 355,164 shares of the textile maker’s stock worth $4,102,000 after buying an additional 2,991 shares during the period. North Star Investment Management Corp. increased its stake in Rocky Brands by 2.5% in the first quarter. North Star Investment Management Corp. now owns 311,524 shares of the textile maker’s stock worth $3,598,000 after buying an additional 7,500 shares during the period. Finally, Marquette Asset Management Inc. acquired a new stake in Rocky Brands during the first quarter worth $175,000. Hedge funds and other institutional investors own 53.29% of the company’s stock.

Rocky Brands, Inc. (NASDAQ RCKY) opened at 13.75 on Thursday. Rocky Brands, Inc. has a one year low of $9.95 and a one year high of $15.70. The firm has a market capitalization of $102.31 million, a PE ratio of 37.06 and a beta of 0.56. The company’s 50-day moving average price is $13.22 and its 200 day moving average price is $12.66.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings results on Tuesday, July 25th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.18. The firm had revenue of $58.46 million during the quarter, compared to analyst estimates of $61.70 million. Rocky Brands had a return on equity of 4.03% and a net margin of 1.06%. On average, analysts forecast that Rocky Brands, Inc. will post $0.90 earnings per share for the current year.

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Several brokerages recently issued reports on RCKY. ValuEngine raised Rocky Brands from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Rocky Brands from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday, July 28th. TheStreet raised Rocky Brands from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. Finally, B. Riley reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Rocky Brands in a report on Monday, April 24th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Rocky Brands presently has a consensus rating of “Buy” and a consensus price target of $13.33.

In other news, Director Robert Burton Jr. Moore purchased 5,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was purchased at an average cost of $13.65 per share, with a total value of $68,250.00. Following the purchase, the director now owns 8,099 shares in the company, valued at approximately $110,551.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.50% of the company’s stock.

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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Institutional Ownership by Quarter for Rocky Brands (NASDAQ:RCKY)

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