Rocky Brands (NASDAQ:RCKY) Director Sells $97,493.28 in Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director William Jordan sold 2,011 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $48.48, for a total transaction of $97,493.28. Following the completion of the transaction, the director owned 21,940 shares in the company, valued at $1,063,651.20. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Rocky Brands Price Performance

Shares of RCKY stock opened at $49.95 on Thursday. The firm’s 50 day moving average price is $41.22 and its two-hundred day moving average price is $39.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 2.90. Rocky Brands, Inc. has a 52-week low of $25.76 and a 52-week high of $53.01. The stock has a market cap of $376.62 million, a PE ratio of 13.08 and a beta of 2.36.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, July 28th. The textile maker reported $1.90 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 analysts’ expectations 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 business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Rocky Brands’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 1st. Rocky Brands’s payout ratio is presently 17.80%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCKY. Empowered Funds LLC increased its holdings in shares of Rocky Brands by 6.8% in the first quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock worth $602,000 after acquiring an additional 2,205 shares in the last quarter. Strs Ohio bought a new position in shares of Rocky Brands during the 1st quarter valued at about $92,000. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 1,303 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Rocky Brands in the 2nd quarter valued at approximately $572,000. Finally, First Trust Advisors LP increased its stake 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 purchasing an additional 963 shares in the last quarter. 75.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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