Rocky Brands, Inc. $RCKY Shares Sold by North Star Investment Management Corp.

North Star Investment Management Corp. trimmed its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,125 shares of the textile maker’s stock after selling 21,000 shares during the period. North Star Investment Management Corp. owned 2.55% of Rocky Brands worth $5,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Rocky Brands in the third quarter worth about $1,772,000. Deprince Race & Zollo Inc. increased its holdings in Rocky Brands by 19.5% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 108,862 shares of the textile maker’s stock worth $3,243,000 after buying an additional 17,782 shares during the period. Lazard Asset Management LLC purchased a new position in Rocky Brands during the 2nd quarter worth approximately $155,000. Raymond James Financial Inc. raised its position in Rocky Brands by 24.3% during the 2nd quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock worth $12,371,000 after buying an additional 109,012 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Rocky Brands by 1,060.4% during the 2nd quarter. NewEdge Advisors LLC now owns 11,407 shares of the textile maker’s stock valued at $253,000 after acquiring an additional 10,424 shares during the period. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Insider Activity

In other Rocky Brands news, SVP Byron Wortham sold 6,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $29.90, for a total transaction of $197,340.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis A. Loveland sold 2,162 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $32.39, for a total value of $70,027.18. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 21,156 shares of company stock worth $643,824. 5.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RCKY has been the topic of a number of research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rocky Brands in a research note on Monday, December 29th. Robert W. Baird set a $42.00 price target on shares of Rocky Brands in a report on Wednesday, October 29th. BTIG Research reiterated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Finally, Citigroup reissued a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Rocky Brands Trading Up 0.9%

Shares of NASDAQ:RCKY opened at $28.92 on Tuesday. The business’s 50 day moving average price is $29.80 and its 200-day moving average price is $27.85. Rocky Brands, Inc. has a 1 year low of $11.93 and a 1 year high of $33.40. The firm has a market capitalization of $216.73 million, a price-to-earnings ratio of 10.55 and a beta of 2.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.74 and a quick ratio of 0.88.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data on Tuesday, October 28th. The textile maker reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. Rocky Brands had a net margin of 4.37% and a return on equity of 11.03%. The company had revenue of $122.54 million during the quarter, compared to analysts’ expectations of $122.92 million.

Rocky Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, December 1st. Rocky Brands’s payout ratio is presently 22.63%.

Rocky Brands Profile

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.