Rocky Brands, Inc. (NASDAQ:RCKY) Short Interest Update

Rocky Brands, Inc. (NASDAQ:RCKY) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 106,100 shares, a decline of 16.6% from the September 30th total of 127,200 shares. Based on an average daily volume of 37,900 shares, the days-to-cover ratio is presently 2.8 days. Approximately 1.5% of the shares of the stock are short sold.

Rocky Brands Price Performance

RCKY traded up $0.06 on Wednesday, hitting $27.78. 14,373 shares of the stock were exchanged, compared to its average volume of 38,591. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.87 and a quick ratio of 0.85. Rocky Brands has a 12 month low of $11.77 and a 12 month high of $40.14. The firm has a market capitalization of $206.21 million, a price-to-earnings ratio of 15.31 and a beta of 2.08. The business has a 50-day moving average of $30.20 and a two-hundred day moving average of $32.36.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Tuesday, July 30th. The textile maker reported $0.17 EPS for the quarter, beating the consensus estimate of $0.10 by $0.07. The business had revenue of $98.26 million during the quarter. Rocky Brands had a net margin of 3.21% and a return on equity of 8.85%.

Rocky Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Tuesday, September 3rd. Rocky Brands’s payout ratio is 34.25%.

Hedge Funds Weigh In On Rocky Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Rocky Brands by 24.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 132,009 shares of the textile maker’s stock valued at $4,879,000 after acquiring an additional 25,573 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Rocky Brands by 23.0% in the 2nd quarter. American Century Companies Inc. now owns 129,234 shares of the textile maker’s stock worth $4,776,000 after purchasing an additional 24,135 shares during the period. Bank of New York Mellon Corp boosted its position in Rocky Brands by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock valued at $2,637,000 after acquiring an additional 2,962 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of Rocky Brands by 21.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 36,371 shares of the textile maker’s stock worth $1,344,000 after acquiring an additional 6,533 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Rocky Brands by 21.0% in the 2nd quarter. Marshall Wace LLP now owns 29,355 shares of the textile maker’s stock valued at $1,085,000 after purchasing an additional 5,086 shares during the period. Institutional investors own 75.06% of the company’s stock.

About Rocky Brands

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.