Curtis Loveland Sells 3,483 Shares of Rocky Brands (NASDAQ:RCKY) Stock

Rocky Brands, Inc. (NASDAQ:RCKY) insider Curtis Loveland sold 3,483 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $50.54, for a total transaction of $176,030.82. Following the completion of the transaction, the insider directly owned 92,610 shares in the company, valued at $4,680,509.40. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rocky Brands Stock Performance

NASDAQ RCKY opened at $49.71 on Friday. The company has a market capitalization of $372.33 million, a PE ratio of 13.01 and a beta of 2.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 2.97. Rocky Brands, Inc. has a 52-week low of $25.76 and a 52-week high of $53.01. The company has a 50-day simple moving average of $41.44 and a 200 day simple moving average of $39.26.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $1.55. Rocky Brands had a net margin of 5.72% and a return on equity of 12.28%. The firm had revenue of $118.37 million for the quarter, compared to analysts’ expectations of $110.08 million.

Rocky Brands Increases Dividend

The company also recently disclosed 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 was Monday, June 1st. This is a positive change from Rocky Brands’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.4%. Rocky Brands’s dividend payout ratio (DPR) is currently 17.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC raised its holdings in Rocky Brands by 6.8% during the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock valued at $602,000 after acquiring an additional 2,205 shares during the period. Strs Ohio bought a new position in shares of Rocky Brands in the first quarter worth $92,000. Geode Capital Management LLC boosted its holdings in shares of Rocky Brands by 0.8% in the second quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock worth $3,782,000 after acquiring an additional 1,303 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Rocky Brands in the second quarter valued at $572,000. Finally, First Trust Advisors LP grew its position in shares of Rocky Brands by 4.2% in the second quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock valued at $534,000 after purchasing an additional 963 shares in the last quarter. 75.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RCKY. Wall Street Zen raised Rocky Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rocky Brands in a research report on Tuesday, May 26th. Robert W. Baird increased 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. Finally, BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.00.

About Rocky Brands

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.