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

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

Rocky Brands Trading Up 4.0%

NASDAQ:RCKY opened at $50.78 on Tuesday. The company has a 50-day moving average price of $40.71 and a 200-day moving average price of $38.89. Rocky Brands, Inc. has a 12 month low of $25.08 and a 12 month high of $51.41. 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 stock has a market cap of $382.88 million, a price-to-earnings ratio of 13.29 and a beta of 2.35.

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

Rocky Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.3%. 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. Rocky Brands’s payout ratio is presently 17.80%.

Institutional Investors Weigh In On Rocky Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its position in Rocky Brands by 42.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 83,652 shares of the textile maker’s stock valued at $2,398,000 after buying an additional 24,832 shares in the last quarter. Aristides Capital LLC boosted its holdings in 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 acquiring an additional 81,822 shares in the last quarter. Deprince Race & Zollo Inc. grew its stake in shares of Rocky Brands by 19.3% in the fourth quarter. Deprince Race & Zollo Inc. now owns 129,890 shares of the textile maker’s stock worth $3,810,000 after acquiring an additional 21,028 shares during the last quarter. LSV Asset Management grew its stake in shares of Rocky Brands by 160.1% in the fourth quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock worth $4,293,000 after acquiring an additional 90,103 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Rocky Brands during the first quarter valued at $516,000. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Key Stories Impacting Rocky Brands

Here are the key news stories impacting Rocky Brands this week:

• Positive Sentiment: Director Dwight Eric Smith purchased 500 shares for approximately $24,315, increasing his holdings by 3.16%. The purchase may modestly support investor confidence in Rocky Brands’ valuation and outlook. SEC filing for Dwight Eric Smith purchase
• Negative Sentiment: Several insiders sold shares after the stock’s recent rally: CEO Curtis A. Loveland sold 3,000 shares for $148,860; Director Tracie A. Winbigler sold 3,000 shares for $142,350; Director William L. Jordan sold 2,011 shares for $97,493; and Director G. Courtney Haning sold 3,000 shares for $147,180. Collectively, the sales totaled 11,011 shares and roughly $535,883, potentially creating a modest overhang or signaling that some insiders are taking profits near elevated price levels. SEC filing for Curtis A. Loveland sale SEC filing for Tracie A. Winbigler sale SEC filing for William L. Jordan sale SEC filing for G. Courtney Haning sale

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Robert W. Baird upped their price target on Rocky Brands from $53.00 to $56.00 and gave the stock 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, Wall Street Zen raised Rocky Brands from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Rocky Brands presently has an average rating of “Hold” and an average 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.