Rocky Brands Inc (RCKY) Position Raised by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in shares of Rocky Brands Inc (NASDAQ:RCKY) by 26.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,600 shares of the textile maker’s stock after purchasing an additional 47,800 shares during the quarter. Renaissance Technologies LLC owned approximately 3.05% of Rocky Brands worth $4,264,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Wells Fargo & Company MN lifted its stake in Rocky Brands by 13.2% during the fourth quarter. Wells Fargo & Company MN now owns 335,234 shares of the textile maker’s stock worth $6,335,000 after purchasing an additional 39,023 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Rocky Brands by 10.4% in the fourth quarter. Acadian Asset Management LLC now owns 263,763 shares of the textile maker’s stock valued at $4,983,000 after buying an additional 24,754 shares during the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new stake in Rocky Brands in the fourth quarter valued at approximately $4,145,000. Bank of New York Mellon Corp lifted its stake in Rocky Brands by 175.7% in the fourth quarter. Bank of New York Mellon Corp now owns 47,133 shares of the textile maker’s stock valued at $891,000 after buying an additional 30,036 shares during the last quarter. Finally, OxFORD Asset Management LLP lifted its stake in Rocky Brands by 160.5% in the third quarter. OxFORD Asset Management LLP now owns 41,220 shares of the textile maker’s stock valued at $552,000 after buying an additional 25,399 shares during the last quarter. Hedge funds and other institutional investors own 58.77% of the company’s stock.

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In other Rocky Brands news, Director James L. Stewart sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $18.00, for a total value of $36,000.00. Following the completion of the sale, the director now owns 27,663 shares in the company, valued at $497,934. The sale was disclosed in a document filed with the SEC, which is available through this link. 8.50% of the stock is currently owned by insiders.



Shares of NASDAQ RCKY opened at $21.85 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.95 and a quick ratio of 2.68. Rocky Brands Inc has a twelve month low of $10.75 and a twelve month high of $22.80. The company has a market capitalization of $159.70, a price-to-earnings ratio of 18.84 and a beta of 0.33.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, February 20th. The textile maker reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.12. Rocky Brands had a return on equity of 6.24% and a net margin of 3.79%. The company had revenue of $66.99 million during the quarter, compared to analysts’ expectations of $65.90 million. sell-side analysts anticipate that Rocky Brands Inc will post 1.4 earnings per share for the current year.

Rocky Brands announced that its board has approved a stock buyback program on Monday, March 5th that authorizes the company to buyback $7.50 million in shares. This buyback authorization authorizes the textile maker to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

A number of brokerages have weighed in on RCKY. ValuEngine upgraded Rocky Brands from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research cut Rocky Brands from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $19.00 price objective on shares of Rocky Brands in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company’s stock. Rocky Brands presently has a consensus rating of “Buy” and an average target price of $18.33.

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Rocky Brands 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 and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military. In its wholesale segment, the Company distributes its products through a range of distribution channels representing over 10,000 retail store locations in the United States and Canada, as well as in other international markets.

Institutional Ownership by Quarter for Rocky Brands (NASDAQ:RCKY)

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