Rocky Brands, Inc. (RCKY) To Go Ex-Dividend on May 31st

Rocky Brands, Inc. (NASDAQ:RCKYGet Rating) announced a quarterly dividend on Monday, May 16th, Zacks reports. Investors of record on Wednesday, June 1st will be paid 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 yield of 1.67%. The ex-dividend date of this dividend is Tuesday, May 31st.

Rocky Brands has raised its dividend by an average of 7.9% annually over the last three years and has raised its dividend every year for the last 1 years. Rocky Brands has a dividend payout ratio of 9.1% indicating that its dividend is sufficiently covered by earnings. Research 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%.

NASDAQ:RCKY traded down $1.85 on Wednesday, reaching $37.21. The stock had a trading volume of 11 shares, compared to its average volume of 32,772. The company has a market cap of $272.01 million, a price-to-earnings ratio of 12.40 and a beta of 0.75. Rocky Brands has a 12-month low of $33.04 and a 12-month high of $60.14. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 0.75. The firm’s fifty day moving average is $41.14 and its two-hundred day moving average is $40.87.

Rocky Brands (NASDAQ:RCKYGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The textile maker reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.16. Rocky Brands had a net margin of 3.94% and a return on equity of 16.42%. The business had revenue of $167.03 million during the quarter, compared to the consensus estimate of $137.42 million. During the same quarter last year, the company earned $1.19 earnings per share. As a group, research analysts forecast that Rocky Brands will post 5.39 earnings per share for the current fiscal year.

RCKY has been the subject of several research reports. StockNews.com started coverage on Rocky Brands in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded Rocky Brands from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Saturday, May 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rocky Brands presently has an average rating of “Buy” and a consensus price target of $59.25.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP increased its position in Rocky Brands by 103.8% in the 1st quarter. Quantbot Technologies LP now owns 801 shares of the textile maker’s stock valued at $33,000 after buying an additional 408 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of 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 acquiring an additional 1,007 shares in the last quarter. Citigroup Inc. grew its holdings 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 valued at $71,000 after acquiring an additional 974 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 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 acquiring an additional 689 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake 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 purchasing an additional 1,638 shares during the last quarter. 79.35% of the stock is currently 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.

See Also

Dividend History for Rocky Brands (NASDAQ:RCKY)

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