Rocky Brands, Inc. (NASDAQ:RCKY) Announces $0.16 Quarterly Dividend

Rocky Brands, Inc. (NASDAQ:RCKY) announced a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Stockholders of record on Tuesday, December 3rd will be given a dividend of 0.155 per share by the textile maker on Tuesday, December 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, December 3rd.

Rocky Brands has increased its dividend by an average of 13.9% per year over the last three years. Rocky Brands has a payout ratio of 19.4% meaning its dividend is sufficiently covered by earnings.

Rocky Brands Trading Up 1.4 %

Shares of RCKY stock traded up $0.28 on Tuesday, reaching $20.91. 36,051 shares of the stock were exchanged, compared to its average volume of 41,284. The stock has a market cap of $155.78 million, a P/E ratio of 11.66 and a beta of 2.13. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $27.60 and a two-hundred day moving average of $31.78. Rocky Brands has a 1-year low of $19.65 and a 1-year high of $40.14.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.22). Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%. The business had revenue of $114.55 million for the quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RCKY. StockNews.com cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird reduced their price target on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st.

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.