William Jordan Sells 2,011 Shares of Rocky Brands (NASDAQ:RCKY) 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 transaction, the director directly owned 21,940 shares of the company’s stock, valued at $1,063,651.20. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Rocky Brands Stock Performance

Shares of NASDAQ:RCKY traded up $1.94 during mid-day trading on Monday, reaching $50.78. The company had a trading volume of 77,411 shares, compared to its average volume of 57,061. The company has a current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The firm has a market cap of $382.88 million, a price-to-earnings ratio of 13.29 and a beta of 2.35. The company’s 50-day moving average price is $40.41 and its 200-day moving average price is $38.76. Rocky Brands, Inc. has a one year low of $25.08 and a one year high of $51.41.

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

Rocky Brands Increases Dividend

The company 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. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Rocky Brands’s previous quarterly dividend of $0.15. Rocky Brands’s payout ratio is currently 17.80%.

Institutional Trading of Rocky Brands

Institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in Rocky Brands by 32.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 11,774 shares of the textile maker’s stock worth $486,000 after purchasing an additional 2,917 shares in the last quarter. Bank of America Corp DE grew its holdings in Rocky Brands by 154.5% during the 1st quarter. Bank of America Corp DE now owns 14,885 shares of the textile maker’s stock valued at $576,000 after buying an additional 9,036 shares in the last quarter. Empowered Funds LLC grew its holdings in Rocky Brands by 9.8% during the 1st quarter. Empowered Funds LLC now owns 50,106 shares of the textile maker’s stock valued at $1,940,000 after buying an additional 4,478 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Rocky Brands by 39.1% during the first quarter. Renaissance Technologies LLC now owns 83,535 shares of the textile maker’s stock valued at $3,234,000 after buying an additional 23,500 shares during the period. Finally, Aristides Capital LLC lifted its holdings in shares of Rocky Brands by 264.6% in the first quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker’s stock worth $4,365,000 after buying an additional 81,822 shares in the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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