Mackay Shields LLC Acquires 5,979 Shares of Rocky Brands Inc (NASDAQ:RCKY)

Mackay Shields LLC lifted its holdings in Rocky Brands Inc (NASDAQ:RCKY) by 25.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,679 shares of the textile maker’s stock after purchasing an additional 5,979 shares during the period. Mackay Shields LLC owned 0.40% of Rocky Brands worth $771,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Nkcfo LLC acquired a new stake in Rocky Brands during the fourth quarter worth about $43,000. Rhumbline Advisers acquired a new stake in Rocky Brands during the fourth quarter worth about $242,000. First Trust Advisors LP acquired a new stake in Rocky Brands during the third quarter valued at approximately $290,000. Strs Ohio boosted its holdings in Rocky Brands by 24.9% during the fourth quarter. Strs Ohio now owns 12,900 shares of the textile maker’s stock valued at $335,000 after purchasing an additional 2,574 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Rocky Brands by 81.2% during the fourth quarter. Bessemer Group Inc. now owns 21,200 shares of the textile maker’s stock valued at $551,000 after purchasing an additional 9,500 shares in the last quarter. 72.62% of the stock is currently owned by institutional investors and hedge funds.

RCKY has been the topic of a number of recent research reports. Zacks Investment Research raised Rocky Brands from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, January 15th. ValuEngine raised Rocky Brands from a “hold” rating to a “buy” rating in a report on Monday, December 31st.

NASDAQ RCKY traded up $0.26 during trading on Friday, reaching $25.06. 34,298 shares of the company traded hands, compared to its average volume of 48,212. The company has a market capitalization of $184.99 million, a price-to-earnings ratio of 13.33 and a beta of 0.34. Rocky Brands Inc has a 1-year low of $20.90 and a 1-year high of $33.45.

Rocky Brands (NASDAQ:RCKY) last released its quarterly earnings data on Monday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The company had revenue of $67.19 million for the quarter, compared to the consensus estimate of $66.00 million. Rocky Brands had a return on equity of 9.47% and a net margin of 5.76%. Equities analysts expect that Rocky Brands Inc will post 1.98 EPS for the current year.

In other news, insider Byron Wortham sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $30.00, for a total value of $30,000.00. Following the transaction, the insider now directly owns 2,350 shares of the company’s stock, valued at approximately $70,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Burton Jr. Moore sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $30.22, for a total value of $120,880.00. Following the completion of the transaction, the director now directly owns 22,101 shares in the company, valued at $667,892.22. The disclosure for this sale can be found here. Insiders have sold 10,500 shares of company stock worth $307,780 over the last ninety days. Company insiders own 9.40% of the company’s stock.

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About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.

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Institutional Ownership by Quarter for Rocky Brands (NASDAQ:RCKY)

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