Diamond Hill Capital Management Inc. Decreases Stock Position in Rocky Brands, Inc. (NASDAQ:RCKY)

Diamond Hill Capital Management Inc. lessened its stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY) by 2.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 116,190 shares of the textile maker’s stock after selling 3,324 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Rocky Brands were worth $4,294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in 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 buying an additional 618 shares during the period. BNP Paribas Financial Markets increased its stake in Rocky Brands by 59.5% in the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock worth $97,000 after purchasing an additional 1,332 shares during the period. Aristides Capital LLC increased its stake in Rocky Brands by 3.5% in the fourth quarter. Aristides Capital LLC now owns 42,647 shares of the textile maker’s stock worth $1,287,000 after purchasing an additional 1,441 shares during the period. Bank of New York Mellon Corp increased its stake in Rocky Brands by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock worth $2,637,000 after purchasing an additional 2,962 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Rocky Brands in the second quarter worth $149,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Rocky Brands Stock Performance

RCKY stock opened at $31.48 on Monday. The company has a quick ratio of 0.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.64. The business’s fifty day simple moving average is $31.72 and its two-hundred day simple moving average is $31.54. Rocky Brands, Inc. has a twelve month low of $11.77 and a twelve month high of $40.14. The firm has a market cap of $234.53 million, a price-to-earnings ratio of 17.39 and a beta of 2.08.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 30th. The textile maker reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. Rocky Brands had a return on equity of 8.85% and a net margin of 3.21%. The business had revenue of $98.26 million for the quarter.

Rocky Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.155 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.62 dividend on an annualized basis and a yield of 1.97%. Rocky Brands’s payout ratio is 34.25%.

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.