Deprince Race & Zollo Inc. Reduces Position in Rocky Brands, Inc. $RCKY

Deprince Race & Zollo Inc. decreased its holdings in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 17.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,298 shares of the textile maker’s stock after selling 22,592 shares during the period. Deprince Race & Zollo Inc. owned about 1.42% of Rocky Brands worth $4,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG raised its holdings in Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after purchasing an additional 464 shares during the period. NewEdge Advisors LLC grew its holdings in Rocky Brands by 5.4% during the fourth quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock valued at $342,000 after purchasing an additional 598 shares during the period. First Trust Advisors LP increased its position in Rocky Brands by 2.8% in the fourth quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock worth $695,000 after buying an additional 655 shares in the last quarter. Invesco Ltd. increased its position in Rocky Brands by 5.4% in the fourth quarter. Invesco Ltd. now owns 15,262 shares of the textile maker’s stock worth $448,000 after buying an additional 781 shares in the last quarter. Finally, Aristides Capital LLC raised its stake in shares of Rocky Brands by 3.3% in the fourth quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker’s stock worth $907,000 after buying an additional 979 shares during the period. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Rocky Brands Trading Down 3.8%

Shares of Rocky Brands stock opened at $40.26 on Friday. Rocky Brands, Inc. has a fifty-two week low of $22.34 and a fifty-two week high of $48.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 2.90. The company has a market capitalization of $303.56 million, a P/E ratio of 16.30 and a beta of 2.37. The company has a fifty day moving average of $38.48 and a 200 day moving average of $37.02.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Tuesday, April 28th. The textile maker reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Rocky Brands had a net margin of 3.78% and a return on equity of 8.43%. The business had revenue of $124.40 million for the quarter, compared to the consensus estimate of $122.42 million.

Rocky Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.17 per share. This is an increase from Rocky Brands’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, June 1st. Rocky Brands’s dividend payout ratio (DPR) is 27.53%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. Wall Street Zen cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.00.

About Rocky Brands

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.