Rocky Brands (NASDAQ:RCKY) Director William Jordan Sells 2,011 Shares

Rocky Brands, Inc. (NASDAQ:RCKY) Director William Jordan sold 2,011 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $48.48, for a total transaction of $97,493.28. Following the completion of the sale, the director owned 21,940 shares in the company, valued at $1,063,651.20. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rocky Brands Price Performance

Shares of NASDAQ RCKY opened at $50.78 on Tuesday. 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, Inc. has a 52 week low of $25.08 and a 52 week high of $51.41. The company’s 50-day moving average price is $40.71 and its 200 day moving average price is $38.89. The company has a current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45.

Rocky Brands (NASDAQ:RCKY) last announced its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, topping 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 company had revenue of $118.37 million during the quarter, compared to analysts’ expectations of $110.08 million.

Rocky Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.17 per share. This is a positive change from Rocky Brands’s previous quarterly dividend of $0.15. 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%. Rocky Brands’s dividend payout ratio is 17.80%.

More Rocky Brands News

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

Wall Street Analyst Weigh In

A number of brokerages have commented on RCKY. Robert W. Baird increased their target price on 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 raised Rocky Brands from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Rocky Brands in a research report on Tuesday, May 26th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Rocky Brands presently has an average rating of “Hold” and a consensus price target of $56.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. boosted its holdings in shares of Rocky Brands by 24.3% during the second quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock worth $12,371,000 after purchasing an additional 109,012 shares during the last quarter. Vanguard Group Inc. lifted its position in Rocky Brands by 2.2% during the third quarter. Vanguard Group Inc. now owns 421,576 shares of the textile maker’s stock worth $12,559,000 after buying an additional 8,892 shares during the period. Geode Capital Management LLC lifted its position in 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 buying an additional 1,303 shares during the period. LSV Asset Management boosted its stake in Rocky Brands by 160.1% in the 4th quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock worth $4,293,000 after buying an additional 90,103 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Rocky Brands by 9.6% in the 4th quarter. Russell Investments Group Ltd. now owns 132,751 shares of the textile maker’s stock worth $3,894,000 after buying an additional 11,634 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors and hedge funds.

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.