Meeder Asset Management Inc. decreased its stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 70.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,050 shares of the textile maker’s stock after selling 24,000 shares during the period. Meeder Asset Management Inc. owned 0.14% of Rocky Brands worth $135,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in Rocky Brands by 3.6% in the fourth quarter. Renaissance Technologies LLC now owns 135,900 shares of the textile maker’s stock valued at $1,570,000 after buying an additional 4,700 shares during the last quarter. ICM Asset Management Inc. WA increased its position in Rocky Brands by 68.3% in the fourth quarter. ICM Asset Management Inc. WA now owns 42,505 shares of the textile maker’s stock valued at $491,000 after buying an additional 17,247 shares during the last quarter. Marquette Asset Management Inc. acquired a new position in Rocky Brands during the first quarter valued at about $175,000. North Star Investment Management Corp. increased its position in Rocky Brands by 2.5% in the first quarter. North Star Investment Management Corp. now owns 311,524 shares of the textile maker’s stock valued at $3,598,000 after buying an additional 7,500 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Rocky Brands by 0.8% in the first quarter. Wells Fargo & Company MN now owns 355,164 shares of the textile maker’s stock valued at $4,102,000 after buying an additional 2,991 shares during the last quarter. 53.46% of the stock is owned by hedge funds and other institutional investors.
Shares of Rocky Brands, Inc. (RCKY) traded down 0.36% during trading on Friday, reaching $13.85. 10,411 shares of the company were exchanged. The stock has a 50-day moving average price of $13.38 and a 200-day moving average price of $12.72. Rocky Brands, Inc. has a one year low of $9.95 and a one year high of $15.70. The stock has a market capitalization of $103.13 million, a PE ratio of 37.33 and a beta of 0.56.
Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Tuesday, July 25th. The textile maker reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.18. Rocky Brands had a net margin of 1.06% and a return on equity of 4.02%. The company had revenue of $58.46 million during the quarter, compared to analyst estimates of $61.70 million. Analysts forecast that Rocky Brands, Inc. will post $0.90 EPS for the current year.
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Several equities analysts have recently issued reports on RCKY shares. B. Riley reaffirmed a “neutral” rating and set a $13.00 price target on shares of Rocky Brands in a research note on Monday, April 24th. Zacks Investment Research raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research note on Tuesday, April 25th. TheStreet raised shares of Rocky Brands from a “c” rating to a “b-” rating in a research note on Tuesday, July 25th. Finally, ValuEngine raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd.
In other news, Director Robert Burton Jr. Moore purchased 5,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average cost of $13.65 per share, for a total transaction of $68,250.00. Following the acquisition, the director now directly owns 8,099 shares of the company’s stock, valued at approximately $110,551.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.50% of the company’s stock.
Rocky Brands Company Profile
Rocky Brands, Inc is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military.
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