Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Rocky Brands Inc (NASDAQ:RCKY) by 87.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,525 shares of the textile maker’s stock after buying an additional 23,600 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.68% of Rocky Brands worth $1,430,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Strs Ohio grew its holdings in shares of Rocky Brands by 25.9% during the third quarter. Strs Ohio now owns 10,326 shares of the textile maker’s stock valued at $292,000 after buying an additional 2,126 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Rocky Brands during the second quarter valued at $155,000. Dimensional Fund Advisors LP grew its holdings in shares of Rocky Brands by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 626,747 shares of the textile maker’s stock valued at $17,737,000 after buying an additional 6,541 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Rocky Brands during the second quarter valued at $220,000. Finally, Bessemer Group Inc. grew its holdings in shares of Rocky Brands by 172.1% during the third quarter. Bessemer Group Inc. now owns 11,700 shares of the textile maker’s stock valued at $331,000 after buying an additional 7,400 shares in the last quarter. Institutional investors and hedge funds own 72.64% of the company’s stock.
A number of research analysts have recently weighed in on the company. ValuEngine downgraded Rocky Brands from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 28th. Zacks Investment Research raised Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a research report on Friday, October 26th.
RCKY opened at $24.08 on Friday. The firm has a market cap of $183.90 million, a P/E ratio of 20.76 and a beta of 0.22. Rocky Brands Inc has a 1 year low of $15.00 and a 1 year high of $33.45.
Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings data on Tuesday, October 23rd. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.11. The firm had revenue of $65.92 million during the quarter, compared to analysts’ expectations of $63.50 million. Rocky Brands had a return on equity of 9.06% and a net margin of 6.08%. Equities analysts forecast that Rocky Brands Inc will post 1.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.99%. Rocky Brands’s payout ratio is 41.38%.
Rocky Brands Company Profile
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.
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