Rocky Brands (NASDAQ:RCKY) Director Sells $51,299.43 in Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director William Jordan sold 989 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $51.87, for a total transaction of $51,299.43. Following the completion of the transaction, the director owned 20,951 shares in the company, valued at $1,086,728.37. The trade was a 4.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Rocky Brands Stock Down 1.0%

Shares of NASDAQ:RCKY opened at $49.23 on Friday. Rocky Brands, Inc. has a 1 year low of $25.76 and a 1 year high of $53.01. The company has a market cap of $368.73 million, a PE ratio of 12.89 and a beta of 2.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.97 and a quick ratio of 1.02. The stock’s 50-day moving average is $41.65 and its 200 day moving average is $39.33.

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

Rocky Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.4%. This is an increase from Rocky Brands’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, June 1st. Rocky Brands’s dividend payout ratio (DPR) is presently 17.80%.

Hedge Funds Weigh In On Rocky Brands

Several large investors have recently made changes to their positions in the business. Raymond James Financial Inc. grew its stake in shares of Rocky Brands by 24.3% in the 2nd quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock worth $12,371,000 after buying an additional 109,012 shares during the last quarter. BlackRock Inc. bought a new position in Rocky Brands during the 2nd quarter valued at approximately $21,559,000. Vanguard Group Inc. raised its stake in Rocky Brands by 2.2% during the third quarter. Vanguard Group Inc. now owns 421,576 shares of the textile maker’s stock valued at $12,559,000 after buying an additional 8,892 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 worth $3,782,000 after acquiring an additional 1,303 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in Rocky Brands by 160.1% in the fourth quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock worth $4,293,000 after acquiring an additional 90,103 shares in the last quarter. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RCKY. Robert W. Baird raised their target price on shares of Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. BTIG Research reiterated a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Rocky Brands presently has a consensus rating of “Moderate Buy” 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.