Waterfront Wealth Inc. Buys New Shares in Rocky Brands, Inc. (NASDAQ:RCKY)

Waterfront Wealth Inc. purchased a new position in shares of Rocky Brands, Inc. (NASDAQ:RCKY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 18,882 shares of the textile maker’s stock, valued at approximately $431,000. Waterfront Wealth Inc. owned about 0.25% of Rocky Brands as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RCKY. Dynamic Technology Lab Private Ltd bought a new position in shares of Rocky Brands during the 3rd quarter valued at $224,000. JPMorgan Chase & Co. boosted its position in Rocky Brands by 133.8% during the third quarter. JPMorgan Chase & Co. now owns 8,182 shares of the textile maker’s stock valued at $261,000 after buying an additional 4,683 shares during the period. Barclays PLC grew its stake in shares of Rocky Brands by 292.3% during the third quarter. Barclays PLC now owns 9,757 shares of the textile maker’s stock valued at $311,000 after buying an additional 7,270 shares during the last quarter. Summit Global Investments purchased a new position in shares of Rocky Brands in the third quarter worth about $341,000. Finally, Yarger Wealth Strategies LLC lifted its stake in shares of Rocky Brands by 6.0% in the 4th quarter. Yarger Wealth Strategies LLC now owns 10,873 shares of the textile maker’s stock valued at $248,000 after acquiring an additional 614 shares during the last quarter. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Rocky Brands Stock Performance

Shares of NASDAQ:RCKY opened at $23.09 on Friday. The company has a current ratio of 2.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. The company has a market cap of $172.02 million, a price-to-earnings ratio of 12.97 and a beta of 2.10. Rocky Brands, Inc. has a 12 month low of $19.65 and a 12 month high of $40.14. The company has a 50-day moving average price of $23.66 and a 200-day moving average price of $25.87.

Rocky Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.155 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.62 annualized dividend and a dividend yield of 2.69%. Rocky Brands’s dividend payout ratio (DPR) is presently 34.83%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RCKY. StockNews.com lowered Rocky Brands from a “buy” rating to a “hold” rating in a research report on Saturday, February 8th. Robert W. Baird cut their target price on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st.

Rocky Brands Profile

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.