Short Interest in Rocky Brands, Inc. (NASDAQ:RCKY) Declines By 16.6%

Rocky Brands, Inc. (NASDAQ:RCKY) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 106,100 shares, a drop of 16.6% from the September 30th total of 127,200 shares. Based on an average trading volume of 37,900 shares, the short-interest ratio is currently 2.8 days. Approximately 1.5% of the shares of the company are short sold.

Hedge Funds Weigh In On Rocky Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in shares of Rocky Brands by 59.5% in the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock valued at $97,000 after acquiring an additional 1,332 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Rocky Brands by 29.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,710 shares of the textile maker’s stock worth $100,000 after acquiring an additional 618 shares during the last quarter. SG Americas Securities LLC acquired a new position in Rocky Brands during the second quarter valued at approximately $149,000. Inspire Advisors LLC bought a new stake in Rocky Brands in the third quarter valued at approximately $339,000. Finally, Yarger Wealth Strategies LLC raised its holdings in Rocky Brands by 7.7% in the second quarter. Yarger Wealth Strategies LLC now owns 9,737 shares of the textile maker’s stock worth $360,000 after purchasing an additional 692 shares during the period. 75.06% of the stock is currently owned by institutional investors and hedge funds.

Rocky Brands Stock Performance

Rocky Brands stock traded up $0.08 during mid-day trading on Wednesday, reaching $27.80. The company had a trading volume of 17,034 shares, compared to its average volume of 38,600. The company has a quick ratio of 0.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.64. The firm has a market cap of $206.36 million, a price-to-earnings ratio of 15.31 and a beta of 2.08. The company has a 50 day moving average of $30.20 and a 200-day moving average of $32.36. Rocky Brands has a 52 week low of $11.77 and a 52 week high of $40.14.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 30th. The textile maker reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. Rocky Brands had a return on equity of 8.85% and a net margin of 3.21%. The business had revenue of $98.26 million for the quarter.

Rocky Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.62 annualized dividend and a yield of 2.23%. Rocky Brands’s dividend payout ratio (DPR) is currently 34.25%.

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.