Byron Wortham Sells 6,600 Shares of Rocky Brands (NASDAQ:RCKY) Stock

Rocky Brands, Inc. (NASDAQ:RCKY) SVP Byron Wortham sold 6,600 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $29.90, for a total transaction of $197,340.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rocky Brands Stock Performance

NASDAQ:RCKY opened at $29.74 on Friday. Rocky Brands, Inc. has a 52 week low of $11.93 and a 52 week high of $33.40. The company has a fifty day simple moving average of $29.04 and a two-hundred day simple moving average of $25.07. The company has a quick ratio of 0.79, a current ratio of 2.76 and a debt-to-equity ratio of 0.52. The company has a market cap of $222.10 million, a price-to-earnings ratio of 10.85 and a beta of 2.49.

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

Rocky Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, September 2nd. Rocky Brands’s dividend payout ratio (DPR) is presently 22.63%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RCKY. BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Rocky Brands in a report on Wednesday, October 8th. Citigroup reissued a “neutral” rating on shares of Rocky Brands in a research report on Wednesday, October 29th. Baird R W raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Finally, Robert W. Baird set a $42.00 target price on shares of Rocky Brands in a research note on Wednesday, October 29th. 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Institutional Trading of Rocky Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCKY. GSA Capital Partners LLP purchased a new stake in shares of Rocky Brands in the 1st quarter valued at about $606,000. Raymond James Financial Inc. grew its stake in Rocky Brands by 6.0% during the 1st quarter. Raymond James Financial Inc. now owns 448,490 shares of the textile maker’s stock worth $7,790,000 after buying an additional 25,551 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in Rocky Brands by 19.8% during the first quarter. Diamond Hill Capital Management Inc. now owns 136,554 shares of the textile maker’s stock worth $2,372,000 after buying an additional 22,596 shares during the period. Nuveen LLC purchased a new stake in Rocky Brands in the first quarter valued at approximately $345,000. Finally, American Century Companies Inc. boosted its holdings in shares of Rocky Brands by 10.0% in the first quarter. American Century Companies Inc. now owns 235,411 shares of the textile maker’s stock valued at $4,089,000 after acquiring an additional 21,420 shares during the period. Institutional investors and hedge funds 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.