Rocky Brands, Inc. (NASDAQ:RCKY) Declares Dividend Increase – $0.17 Per Share

Rocky Brands, Inc. (NASDAQ:RCKY) declared a quarterly dividend on Monday, May 18th. Shareholders of record on Monday, June 1st will be paid a dividend of 0.17 per share by the textile maker on Monday, June 15th. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. This is a 9.7% increase from Rocky Brands’s previous quarterly dividend of $0.16.

Rocky Brands has increased its dividend by an average of 0.0%per year over the last three years. Rocky Brands has a dividend payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings.

Rocky Brands Trading Up 1.8%

Shares of RCKY stock opened at $34.34 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.90 and a quick ratio of 1.02. The firm has a market cap of $258.92 million, a PE ratio of 13.90 and a beta of 2.39. The company has a 50-day moving average of $39.98 and a two-hundred day moving average of $34.86. Rocky Brands has a 1-year low of $20.27 and a 1-year high of $48.70.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG boosted its stake in shares of Rocky Brands by 10.0% in the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after purchasing an additional 464 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Rocky Brands by 5.4% in the fourth quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock valued at $342,000 after purchasing an additional 598 shares during the period. First Trust Advisors LP boosted its stake in shares of Rocky Brands by 2.8% in the fourth quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock valued at $695,000 after purchasing an additional 655 shares during the period. Invesco Ltd. boosted its stake in shares of Rocky Brands by 5.4% in the fourth quarter. Invesco Ltd. now owns 15,262 shares of the textile maker’s stock valued at $448,000 after purchasing an additional 781 shares during the period. Finally, Aristides Capital LLC boosted its stake in shares of Rocky Brands by 3.3% in the fourth quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker’s stock valued at $907,000 after purchasing an additional 979 shares during the period. Hedge funds and other institutional investors own 75.06% of the company’s stock.

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.