Franklin Resources Inc. Reduces Stock Position in Rocky Brands, Inc. (NASDAQ:RCKY)

Franklin Resources Inc. trimmed its position in shares of Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) by 21.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,907 shares of the textile maker's stock after selling 23,462 shares during the period. Franklin Resources Inc. owned about 1.17% of Rocky Brands worth $2,550,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. FMR LLC increased its position in Rocky Brands by 0.3% during the 3rd quarter. FMR LLC now owns 1,117,353 shares of the textile maker's stock valued at $35,599,000 after purchasing an additional 3,883 shares during the period. Geode Capital Management LLC increased its position in shares of Rocky Brands by 4.6% during the third quarter. Geode Capital Management LLC now owns 168,315 shares of the textile maker's stock valued at $5,364,000 after buying an additional 7,353 shares during the period. State Street Corp raised its stake in Rocky Brands by 0.4% in the third quarter. State Street Corp now owns 134,249 shares of the textile maker's stock worth $4,277,000 after buying an additional 586 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Rocky Brands by 24.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 132,009 shares of the textile maker's stock valued at $4,879,000 after acquiring an additional 25,573 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Rocky Brands by 23.0% during the 2nd quarter. American Century Companies Inc. now owns 129,234 shares of the textile maker's stock worth $4,776,000 after acquiring an additional 24,135 shares during the period. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com lowered Rocky Brands from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Robert W. Baird dropped 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 Stock Up 2.7 %

Shares of RCKY traded up $0.61 during mid-day trading on Thursday, reaching $23.39. The company had a trading volume of 26,803 shares, compared to its average volume of 41,289. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79. The company has a market capitalization of $174.35 million, a price-to-earnings ratio of 13.14 and a beta of 2.13. The firm has a 50-day moving average price of $23.03 and a 200 day moving average price of $29.10. Rocky Brands, Inc. has a 52 week low of $19.65 and a 52 week high of $40.14.

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

Rocky Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.155 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.62 dividend on an annualized basis and a yield of 2.65%. Rocky Brands's dividend payout ratio is currently 34.83%.

Rocky Brands Company 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.