Rocky Brands (NASDAQ:RCKY) Director Tracie Winbigler Sells 3,000 Shares

Rocky Brands, Inc. (NASDAQ:RCKY) Director Tracie Winbigler sold 3,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $47.45, for a total value of $142,350.00. Following the completion of the transaction, the director owned 14,246 shares of the company’s stock, valued at $675,972.70. The trade was a 17.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Rocky Brands Stock Up 4.0%

RCKY opened at $50.78 on Tuesday. Rocky Brands, Inc. has a fifty-two week low of $25.08 and a fifty-two week high of $51.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.90 and a quick ratio of 1.02. The firm’s fifty day moving average price is $40.71 and its two-hundred day moving average price is $38.89. The company has a market capitalization of $382.88 million, a P/E ratio of 13.29 and a beta of 2.35.

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

Rocky Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.17 dividend. The ex-dividend date of this dividend 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 1.3%. Rocky Brands’s payout ratio is presently 17.80%.

Trending Headlines about Rocky Brands

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

Analysts Set New Price Targets

A number of brokerages have commented on RCKY. Wall Street Zen upgraded shares of Rocky Brands from a “hold” rating to a “buy” rating in a research note on Saturday. Robert W. Baird upped their price objective on Rocky Brands from $53.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rocky Brands in a report on Tuesday, May 26th. Finally, BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.00.

Institutional Investors Weigh In On Rocky Brands

Several large investors have recently made changes to their positions in RCKY. Raymond James Financial Inc. increased its position in shares of Rocky Brands by 24.3% during the 2nd 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 in the last quarter. Vanguard Group Inc. lifted its holdings in Rocky Brands by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 421,576 shares of the textile maker’s stock valued at $12,559,000 after purchasing an additional 8,892 shares during the last quarter. Geode Capital Management LLC boosted its position in Rocky Brands by 0.8% in the second quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock valued at $3,782,000 after buying an additional 1,303 shares in the last quarter. LSV Asset Management boosted its position in Rocky Brands by 160.1% in the fourth quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock valued at $4,293,000 after buying an additional 90,103 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Rocky Brands by 9.6% during the fourth 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. Institutional investors 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.