Rocky Brands, Inc. (NASDAQ:RCKY – Get Rating) announced a quarterly dividend on Monday, May 16th, Zacks reports. Stockholders of record on Wednesday, June 1st will be given a dividend of 0.155 per share by the textile maker on Wednesday, June 15th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Tuesday, May 31st.
Rocky Brands has increased its dividend by an average of 7.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Rocky Brands has a payout ratio of 9.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Rocky Brands to earn $6.96 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 8.9%.
Shares of RCKY opened at $38.28 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.75 and a current ratio of 2.22. Rocky Brands has a one year low of $33.04 and a one year high of $60.14. The stock has a market capitalization of $279.83 million, a price-to-earnings ratio of 12.15 and a beta of 0.76. The stock has a 50 day moving average price of $39.72 and a 200 day moving average price of $40.34.
Several research firms recently issued reports on RCKY. StockNews.com began coverage on Rocky Brands in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Rocky Brands from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Saturday, May 7th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $59.25.
A number of institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP grew its position in shares of Rocky Brands by 103.8% in the first quarter. Quantbot Technologies LP now owns 801 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 408 shares during the period. Citigroup Inc. lifted its stake in shares of Rocky Brands by 120.2% in the fourth quarter. Citigroup Inc. now owns 1,784 shares of the textile maker’s stock worth $71,000 after acquiring an additional 974 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Rocky Brands by 130.8% in the third quarter. BNP Paribas Arbitrage SA now owns 1,777 shares of the textile maker’s stock valued at $85,000 after buying an additional 1,007 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Rocky Brands by 27.3% in the first quarter. JPMorgan Chase & Co. now owns 3,213 shares of the textile maker’s stock valued at $134,000 after buying an additional 689 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Rocky Brands by 58.5% in the first quarter. MetLife Investment Management LLC now owns 4,439 shares of the textile maker’s stock valued at $185,000 after buying an additional 1,638 shares during the last quarter. 79.35% of the stock is owned by institutional investors.
About Rocky Brands (Get Rating)
Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, Muck, XTRATUF, Servus, NEOS, Ranger, and licensed Michelin brand names in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments.
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