Charles Schwab Investment Management Inc. Acquires 1,001 Shares of Rocky Brands, Inc. (NASDAQ:RCKY)

Charles Schwab Investment Management Inc. boosted its holdings in Rocky Brands, Inc. (NASDAQ:RCKY) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,999 shares of the textile maker’s stock after purchasing an additional 1,001 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Rocky Brands were worth $669,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Rocky Brands by 24.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 132,009 shares of the textile maker’s stock worth $4,879,000 after acquiring an additional 25,573 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Rocky Brands by 23.0% during the 2nd quarter. American Century Companies Inc. now owns 129,234 shares of the textile maker’s stock valued at $4,776,000 after purchasing an additional 24,135 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Rocky Brands by 21.9% during the second quarter. Panagora Asset Management Inc. now owns 36,371 shares of the textile maker’s stock valued at $1,344,000 after purchasing an additional 6,533 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Rocky Brands in the second quarter worth about $149,000. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Rocky Brands in the second quarter worth about $531,000. 75.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com downgraded Rocky Brands from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird reduced their price target on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st.

Rocky Brands Trading Down 3.2 %

Shares of NASDAQ RCKY opened at $22.64 on Thursday. The stock has a market capitalization of $168.76 million, a P/E ratio of 12.72 and a beta of 2.13. Rocky Brands, Inc. has a 1-year low of $19.65 and a 1-year high of $40.14. The business’s 50 day moving average is $23.86 and its two-hundred day moving average is $29.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.79 and a quick ratio of 0.93.

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

Rocky Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Tuesday, December 3rd. Rocky Brands’s dividend payout ratio (DPR) is currently 34.83%.

Rocky Brands 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.