Empowered Funds LLC Has $987,000 Stake in Rocky Brands, Inc. (NASDAQ:RCKY)

Empowered Funds LLC increased its holdings in Rocky Brands, Inc. (NASDAQ:RCKY) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,994 shares of the textile maker’s stock after buying an additional 1,474 shares during the period. Empowered Funds LLC owned 0.42% of Rocky Brands worth $987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RCKY. BNP Paribas Financial Markets raised its position in shares of Rocky Brands by 59.5% in the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock valued at $97,000 after buying an additional 1,332 shares in the last quarter. Victory Capital Management Inc. raised its position in Rocky Brands by 29.5% during the second quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 618 shares in the last quarter. SG Americas Securities LLC acquired a new position in Rocky Brands during the second quarter valued at approximately $149,000. Inspire Advisors LLC acquired a new position in Rocky Brands during the third quarter valued at approximately $339,000. Finally, Summit Global Investments acquired a new position in Rocky Brands during the third quarter valued at approximately $341,000. 75.06% of the stock is currently owned by institutional investors and hedge funds.

Rocky Brands Stock Performance

NASDAQ RCKY opened at $21.82 on Friday. The firm’s fifty day moving average price is $27.04 and its two-hundred day moving average price is $31.53. The stock has a market cap of $162.65 million, a PE ratio of 12.26 and a beta of 2.13. Rocky Brands, Inc. has a fifty-two week low of $19.65 and a fifty-two week high of $40.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79.

Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Wednesday, October 30th. The textile maker reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.22). The company had revenue of $114.55 million for the quarter. Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%.

Rocky Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.84%. Rocky Brands’s payout ratio is presently 34.83%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RCKY. Robert W. Baird lowered their price objective on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. StockNews.com downgraded shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.