Rocky Brands (NASDAQ:RCKY) Director William Jordan Sells 989 Shares of Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director William Jordan sold 989 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $51.87, for a total transaction of $51,299.43. Following the transaction, the director directly owned 20,951 shares of the company’s stock, valued at $1,086,728.37. This represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rocky Brands Price Performance

Shares of NASDAQ:RCKY traded down $0.52 on Wednesday, reaching $49.95. 51,145 shares of the company were exchanged, compared to its average volume of 57,322. The firm has a market cap of $376.67 million, a price-to-earnings ratio of 13.08 and a beta of 2.36. Rocky Brands, Inc. has a 1-year low of $25.76 and a 1-year high of $53.01. The company has a 50-day moving average of $40.98 and a 200-day moving average of $39.02. 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 issued its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $1.55. The company had revenue of $118.37 million during the quarter, compared to analysts’ expectations of $110.08 million. Rocky Brands had a net margin of 5.72% and a return on equity of 12.44%.

Rocky Brands Increases Dividend

The firm also recently announced 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. The ex-dividend date was Monday, June 1st. This is an increase from Rocky Brands’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. Rocky Brands’s dividend payout ratio (DPR) is presently 17.80%.

Institutional Investors Weigh In On Rocky Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Deutsche Bank AG grew its position in Rocky Brands by 10.0% in the 4th 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 in the last quarter. NewEdge Advisors LLC increased its stake in shares of Rocky Brands by 5.4% during the fourth quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock valued at $342,000 after acquiring an additional 598 shares during the period. First Trust Advisors LP lifted its position in Rocky Brands by 2.8% in the fourth quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock worth $695,000 after purchasing an additional 655 shares during the period. Invesco Ltd. lifted its position in Rocky Brands by 5.4% in the fourth quarter. Invesco Ltd. now owns 15,262 shares of the textile maker’s stock worth $448,000 after purchasing an additional 781 shares during the period. Finally, Aristides Capital LLC boosted its stake in Rocky Brands by 3.3% during the 4th quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker’s stock valued at $907,000 after purchasing an additional 979 shares in the last quarter. 75.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RCKY has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Rocky Brands in a research report on Tuesday, May 26th. BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Wall Street Zen upgraded Rocky Brands from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Robert W. Baird lifted 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. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.