Bailard Inc. Invests $277,000 in Rocky Brands, Inc. (NASDAQ:RCKY)

Bailard Inc. bought a new stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,140 shares of the textile maker’s stock, valued at approximately $277,000. Bailard Inc. owned approximately 0.16% of Rocky Brands at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RCKY. Waterfront Wealth Inc. acquired a new stake in shares of Rocky Brands during the fourth quarter worth $431,000. Summit Global Investments acquired a new stake in shares of Rocky Brands during the third quarter worth about $341,000. Bank of New York Mellon Corp boosted its position in Rocky Brands by 16.1% in the fourth quarter. Bank of New York Mellon Corp now owns 76,195 shares of the textile maker’s stock valued at $1,737,000 after buying an additional 10,584 shares during the last quarter. Geode Capital Management LLC increased its holdings in Rocky Brands by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 168,315 shares of the textile maker’s stock worth $5,364,000 after buying an additional 7,353 shares during the period. Finally, Barclays PLC lifted its stake in Rocky Brands by 292.3% during the 3rd quarter. Barclays PLC now owns 9,757 shares of the textile maker’s stock valued at $311,000 after acquiring an additional 7,270 shares during the period. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a research note on Saturday, February 8th.

Rocky Brands Stock Performance

NASDAQ RCKY opened at $18.54 on Thursday. The firm has a market capitalization of $138.20 million, a P/E ratio of 10.42 and a beta of 2.10. The stock has a 50-day simple moving average of $23.36 and a two-hundred day simple moving average of $25.49. 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 fifty-two week low of $18.22 and a fifty-two week high of $40.14.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Tuesday, February 25th. The textile maker reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). The company had revenue of $128.05 million during the quarter, compared to analyst estimates of $125.44 million. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%.

Rocky Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.62 annualized dividend and a yield of 3.34%. Rocky Brands’s dividend payout ratio is presently 41.06%.

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.