Rocky Brands (NASDAQ:RCKY) Director Sells $147,180.00 in Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director G Courtney Haning sold 3,000 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $49.06, for a total value of $147,180.00. Following the completion of the transaction, the director directly owned 19,750 shares in the company, valued at $968,935. The trade was a 13.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Rocky Brands Price Performance

Rocky Brands stock opened at $49.95 on Thursday. The firm has a market capitalization of $376.62 million, a P/E ratio of 13.08 and a beta of 2.36. Rocky Brands, Inc. has a 1 year low of $25.76 and a 1 year high of $53.01. The business has a 50-day moving average of $41.22 and a 200-day moving average of $39.14. The company has a current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $1.55. The company had revenue of $118.37 million during the quarter, compared to analyst estimates of $110.08 million. Rocky Brands had a net margin of 5.72% and a return on equity of 12.44%.

Rocky Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.17 per share. This is an increase from Rocky Brands’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 1st. Rocky Brands’s payout ratio is 17.80%.

Institutional Trading of Rocky Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in RCKY. Empowered Funds LLC boosted its holdings in Rocky Brands by 6.8% during the first quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock worth $602,000 after purchasing an additional 2,205 shares during the last quarter. Strs Ohio acquired a new stake in Rocky Brands in the 1st quarter valued at $92,000. Geode Capital Management LLC increased its stake in Rocky Brands by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock valued at $3,782,000 after buying an additional 1,303 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Rocky Brands during the 2nd quarter worth about $572,000. Finally, First Trust Advisors LP lifted its position in Rocky Brands by 4.2% during the 2nd quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock worth $534,000 after buying an additional 963 shares in the last quarter. 75.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on RCKY. Wall Street Zen raised Rocky Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Robert W. Baird raised their price objective on shares of Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rocky Brands in a report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.00.

Rocky Brands Company Profile

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.