Curtis Loveland Sells 4,000 Shares of Rocky Brands (NASDAQ:RCKY) Stock

Rocky Brands, Inc. (NASDAQ:RCKY) insider Curtis Loveland sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $28.80, for a total transaction of $115,200.00. Following the completion of the transaction, the insider owned 101,229 shares of the company’s stock, valued at $2,915,395.20. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rocky Brands Stock Down 0.3%

Shares of RCKY opened at $29.74 on Friday. The business’s fifty day moving average price is $29.04 and its two-hundred day moving average price is $24.99. The firm has a market capitalization of $222.10 million, a price-to-earnings ratio of 10.85 and a beta of 2.49. Rocky Brands, Inc. has a 52 week low of $11.93 and a 52 week high of $33.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.79 and a current ratio of 2.76.

Rocky Brands (NASDAQ:RCKY) last released its 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. The company had revenue of $122.54 million during the quarter, compared to the consensus estimate of $122.92 million. Rocky Brands had a return on equity of 11.15% and a net margin of 4.37%.

Rocky Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.155 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.62 annualized dividend and a dividend yield of 2.1%. Rocky Brands’s payout ratio is presently 22.63%.

Institutional Trading of Rocky Brands

A number of large investors have recently bought and sold shares of RCKY. Prudential Financial Inc. lifted its stake in Rocky Brands by 2.9% in 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 in the last quarter. First Trust Advisors LP raised its holdings in shares of Rocky Brands by 4.2% during the second quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock worth $534,000 after acquiring an additional 963 shares during the period. Yarger Wealth Strategies LLC lifted its position in Rocky Brands by 9.8% in the 2nd quarter. Yarger Wealth Strategies LLC now owns 12,917 shares of the textile maker’s stock valued at $287,000 after acquiring an additional 1,150 shares in the last quarter. Geode Capital Management LLC boosted 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 during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Rocky Brands by 8.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,138 shares of the textile maker’s stock worth $367,000 after purchasing an additional 1,563 shares in the last quarter. 75.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RCKY has been the topic of several recent research reports. Citigroup restated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Robert W. Baird set a $42.00 target price on Rocky Brands in a report on Wednesday, October 29th. BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Baird R W upgraded shares of Rocky Brands from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rocky Brands in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.00.

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.