Insider Selling: Rocky Brands (NASDAQ:RCKY) Insider Sells $148,860.00 in Stock

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

Rocky Brands Trading Down 1.0%

RCKY opened at $49.95 on Thursday. The business’s 50 day moving average price is $41.22 and its 200 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. The stock has a market capitalization of $376.62 million, a PE ratio of 13.08 and a beta of 2.36. Rocky Brands, Inc. has a one year low of $25.76 and a one year high of $53.01.

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

Rocky Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a 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 17.80%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Rocky Brands

Several hedge funds have recently added to or reduced their stakes in RCKY. State of Alaska Department of Revenue purchased a new stake in shares of Rocky Brands in the 4th quarter valued at about $35,000. Strs Ohio acquired a new position in Rocky Brands during the first quarter worth approximately $92,000. BNP Paribas Financial Markets increased its position in Rocky Brands by 391.2% during the third 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 Rocky Brands in the first quarter valued at approximately $149,000. Finally, Deutsche Bank AG lifted its stake in Rocky Brands by 10.0% in the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after buying an additional 464 shares during the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.

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.