Rocky Brands, Inc. (NASDAQ:RCKY) Stock Position Lowered by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in Rocky Brands, Inc. (NASDAQ:RCKY) by 21.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 86,907 shares of the textile maker’s stock after selling 23,462 shares during the period. Franklin Resources Inc.’s holdings in Rocky Brands were worth $2,550,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RCKY. Bank of New York Mellon Corp lifted its holdings in Rocky Brands by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock valued at $2,637,000 after acquiring an additional 2,962 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in 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 buying an additional 25,573 shares in the last quarter. Panagora Asset Management Inc. grew its position in Rocky Brands by 21.9% in the second quarter. Panagora Asset Management Inc. now owns 36,371 shares of the textile maker’s stock worth $1,344,000 after buying an additional 6,533 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Rocky Brands in the second quarter valued at $486,000. Finally, Victory Capital Management Inc. lifted its position in shares of Rocky Brands by 29.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 618 shares during the last quarter. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Trading Up 0.3 %

NASDAQ RCKY opened at $22.78 on Thursday. The firm’s 50 day moving average price is $23.16 and its two-hundred day moving average price is $29.14. 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, Inc. has a twelve month low of $19.65 and a twelve month high of $40.14. The stock has a market cap of $169.80 million, a price-to-earnings ratio of 12.80 and a beta of 2.13.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly 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 business had revenue of $114.55 million for the quarter. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%.

Rocky Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were issued a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.72%. Rocky Brands’s dividend payout ratio is 34.83%.

Wall Street Analyst Weigh In

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

About Rocky Brands

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.