Rocky Brands (NASDAQ:RCKY) Insider Curtis Loveland Sells 3,000 Shares of Stock

Rocky Brands, Inc. (NASDAQ:RCKY) insider Curtis Loveland sold 3,000 shares of Rocky Brands stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $49.62, for a total value of $148,860.00. Following the sale, the insider directly owned 96,094 shares of the company’s stock, valued at approximately $4,768,184.28. This trade represents a 3.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rocky Brands Price Performance

Shares of Rocky Brands stock traded up $1.94 during trading on Monday, hitting $50.78. 77,411 shares of the stock traded hands, compared to its average volume of 57,061. The company has a quick ratio of 1.02, a current ratio of 2.90 and a debt-to-equity ratio of 0.45. The stock has a market cap of $382.88 million, a price-to-earnings ratio of 13.29 and a beta of 2.35. The firm’s fifty day moving average is $40.41 and its 200-day moving average is $38.76. Rocky Brands, Inc. has a 52 week low of $25.08 and a 52 week high of $51.41.

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

Rocky Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, June 1st. This is a boost from Rocky Brands’s previous quarterly dividend of $0.15. Rocky Brands’s dividend payout ratio is 17.80%.

Institutional Investors Weigh In On Rocky Brands

Institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in Rocky Brands by 6.8% in the 1st 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 during the last quarter. Strs Ohio bought a new position in shares of Rocky Brands during the first quarter valued at about $92,000. Geode Capital Management LLC boosted its holdings in shares of Rocky Brands by 0.8% during the second quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock worth $3,782,000 after purchasing an additional 1,303 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Rocky Brands in the second quarter worth about $572,000. Finally, First Trust Advisors LP grew its stake in shares of Rocky Brands by 4.2% in the second 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 during the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Analyst Ratings Changes

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