Rocky Brands, Inc. (NASDAQ:RCKY) Announces $0.16 Quarterly Dividend

Rocky Brands, Inc. (NASDAQ:RCKY) declared a quarterly dividend on Monday, November 17th. Shareholders of record on Monday, December 1st will be paid a dividend of 0.155 per share by the textile maker on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, December 1st.

Rocky Brands has raised its dividend by an average of 0.0%per year over the last three years. Rocky Brands has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings.

Rocky Brands Trading Down 1.6%

Shares of Rocky Brands stock opened at $29.67 on Tuesday. The firm has a market cap of $222.35 million, a PE ratio of 10.83 and a beta of 2.49. Rocky Brands has a 1 year low of $11.93 and a 1 year high of $33.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 0.79. The stock has a fifty day moving average price of $29.08 and a 200-day moving average price of $25.76.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings results on Tuesday, October 28th. The textile maker reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. Rocky Brands had a net margin of 4.37% and a return on equity of 11.15%. The company had revenue of $122.54 million for the quarter, compared to the consensus estimate of $122.92 million.

Insiders Place Their Bets

In other news, Director G Courtney Haning sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $31.00, for a total value of $155,000.00. Following the completion of the transaction, the director directly owned 19,482 shares of the company’s stock, valued at $603,942. This trade represents a 20.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Byron Wortham sold 6,600 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $29.90, for a total value of $197,340.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 46,156 shares of company stock worth $1,398,224 in the last three months. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its position in shares of Rocky Brands by 2.9% during the second quarter. Prudential Financial Inc. now owns 28,445 shares of the textile maker’s stock valued at $631,000 after buying an additional 800 shares during the period. First Trust Advisors LP grew its stake in Rocky Brands by 4.2% during the second quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock valued at $534,000 after acquiring an additional 963 shares in the last quarter. Yarger Wealth Strategies LLC increased its holdings in Rocky Brands by 9.8% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 12,917 shares of the textile maker’s stock worth $287,000 after acquiring an additional 1,150 shares during the period. Crawford Investment Counsel Inc. increased its holdings in Rocky Brands by 0.7% during the 3rd quarter. Crawford Investment Counsel Inc. now owns 182,142 shares of the textile maker’s stock worth $5,426,000 after acquiring an additional 1,261 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Rocky Brands by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock worth $3,782,000 after purchasing an additional 1,303 shares in the last quarter. Institutional investors own 75.06% of the company’s stock.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.