Rocky Brands (NASDAQ:RCKY) Director Sells 3,000 Shares

Rocky Brands, Inc. (NASDAQ:RCKY) Director Tracie Winbigler sold 3,000 shares of Rocky Brands stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $47.45, for a total value of $142,350.00. Following the completion of the transaction, the director owned 14,246 shares in the company, valued at approximately $675,972.70. This represents a 17.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Rocky Brands Trading Up 4.0%

Shares of NASDAQ RCKY traded up $1.94 during midday 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 stock has a market cap of $382.88 million, a PE ratio of 13.29 and a beta of 2.35. Rocky Brands, Inc. has a one year low of $25.08 and a one year high of $51.41. The firm’s fifty day moving average price is $40.41 and its 200-day moving average price is $38.76. The company has a quick ratio of 1.02, a current ratio of 2.90 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 EPS 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 business had revenue of $118.37 million for the quarter, compared to analysts’ expectations of $110.08 million.

Rocky Brands Increases Dividend

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

Institutional Investors Weigh In On Rocky Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in Rocky Brands in the fourth quarter worth $35,000. BNP Paribas Financial Markets grew its position in shares of Rocky Brands by 391.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after buying an additional 2,903 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Rocky Brands in the 1st quarter worth about $149,000. Deutsche Bank AG increased its stake in shares of Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after acquiring an additional 464 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Rocky Brands in the 1st quarter worth about $92,000. 75.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a research report on Saturday. 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 research note on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rocky Brands in a report on Tuesday, May 26th. Finally, BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently 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.