Sei Investments Co. Makes New $1.15 Million Investment in Rocky Brands, Inc. $RCKY

Sei Investments Co. purchased a new position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,786 shares of the textile maker’s stock, valued at approximately $1,153,000.

Several other institutional investors also recently modified their holdings of RCKY. State of Alaska Department of Revenue bought a new position in shares of Rocky Brands in the 4th quarter valued at $35,000. Strs Ohio bought a new stake in Rocky Brands during the 1st quarter worth $92,000. BNP Paribas Financial Markets grew its position in Rocky Brands by 391.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after acquiring an additional 2,903 shares during the last quarter. SG Americas Securities LLC acquired a new position in Rocky Brands in the 1st quarter worth about $149,000. Finally, Deutsche Bank AG increased its holdings in Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after purchasing an additional 464 shares in the last quarter. 75.06% of the stock is currently owned by institutional investors and hedge funds.

Rocky Brands Stock Performance

Shares of Rocky Brands stock opened at $47.45 on Wednesday. The business has a 50-day moving average price of $42.02 and a two-hundred day moving average price of $39.59. Rocky Brands, Inc. has a 1-year low of $25.76 and a 1-year high of $53.01. The company has a current ratio of 2.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43. The company has a market cap of $355.40 million, a P/E ratio of 12.42 and a beta of 2.36.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $1.55. Rocky Brands had a return on equity of 12.28% and a net margin of 5.72%.The company had revenue of $118.37 million for the quarter, compared to the consensus estimate of $110.08 million.

Rocky Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.17 dividend. The ex-dividend date was Monday, June 1st. This is an increase from Rocky Brands’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. Rocky Brands’s dividend payout ratio is presently 17.80%.

Analysts Set New Price Targets

RCKY has been the subject of several research reports. Wall Street Zen upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Robert W. Baird upped their price objective on Rocky Brands from $53.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Weiss Ratings raised Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, BTIG Research reiterated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Rocky Brands currently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Insiders Place Their Bets

In other news, Director Tracie A. Winbigler sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $47.45, for a total transaction of $142,350.00. Following the completion of the sale, the director owned 14,246 shares of the company’s stock, valued at $675,972.70. This trade represents a 17.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director G Courtney Haning sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $49.06, for a total transaction of $147,180.00. Following the sale, the director directly owned 19,750 shares of the company’s stock, valued at approximately $968,935. This trade represents a 13.19% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 15,483 shares of company stock valued at $763,214. Company insiders own 7.60% of the company’s stock.

Rocky Brands Company 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.