Wells Fargo & Company MN reduced its position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 338,716 shares of the textile maker’s stock after selling 16,448 shares during the period. Wells Fargo & Company MN owned 4.55% of Rocky Brands worth $4,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in shares of Rocky Brands by 17.2% during the second quarter. Franklin Resources Inc. now owns 200,000 shares of the textile maker’s stock valued at $2,690,000 after purchasing an additional 29,400 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Rocky Brands by 332.3% during the second quarter. JPMorgan Chase & Co. now owns 18,835 shares of the textile maker’s stock valued at $253,000 after purchasing an additional 14,478 shares in the last quarter. ClariVest Asset Management LLC bought a new position in shares of Rocky Brands during the second quarter valued at about $355,000. Algert Global LLC lifted its position in shares of Rocky Brands by 145.3% during the second quarter. Algert Global LLC now owns 147,133 shares of the textile maker’s stock valued at $1,979,000 after purchasing an additional 87,143 shares in the last quarter. Finally, Marquette Asset Management Inc. lifted its position 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 valued at $223,000 after purchasing an additional 1,434 shares in the last quarter. 56.93% of the stock is currently owned by institutional investors.

A number of analysts recently issued reports on RCKY shares. TheStreet upgraded shares of Rocky Brands from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. ValuEngine upgraded shares of Rocky Brands from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of 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. Finally, Robert W. Baird restated a “hold” rating and set a $13.00 price objective on shares of Rocky Brands in a report on Sunday, September 3rd. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $14.00.

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In related news, Director Robert Burton Jr. Moore bought 5,000 shares of the stock in a transaction on Friday, August 25th. The shares were acquired at an average price of $13.80 per share, for a total transaction of $69,000.00. Following the purchase, the director now owns 13,619 shares of the company’s stock, valued at $187,942.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.50% of the stock is currently owned by corporate insiders.

Shares of Rocky Brands, Inc. (NASDAQ RCKY) opened at 14.45 on Friday. The company’s 50-day moving average is $13.68 and its 200-day moving average is $13.42. The stock has a market cap of $107.59 million, a P/E ratio of 38.95 and a beta of 0.59. Rocky Brands, Inc. has a 12-month low of $9.95 and a 12-month high of $15.70.

Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Tuesday, July 25th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.18. The business had revenue of $58.46 million for the quarter, compared to analysts’ expectations of $61.70 million. Rocky Brands had a net margin of 1.06% and a return on equity of 4.02%. On average, equities research analysts anticipate that Rocky Brands, Inc. will post $0.90 earnings per share for the current year.

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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