Rocky Brands (NASDAQ:RCKY) Director G Courtney Haning Sells 3,000 Shares of Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director G Courtney Haning sold 3,000 shares of Rocky Brands stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $49.06, for a total transaction of $147,180.00. Following the transaction, the director owned 19,750 shares in the company, valued at approximately $968,935. The trade was a 13.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Rocky Brands Stock Up 4.0%

NASDAQ:RCKY traded up $1.94 during trading hours on Monday, hitting $50.78. 77,411 shares of the stock traded hands, compared to its average volume of 57,061. The firm has a 50 day moving average price of $40.41 and a 200 day moving average price of $38.76. The firm has a market cap of $382.88 million, a price-to-earnings ratio of 13.29 and a beta of 2.35. 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 current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, July 28th. The textile maker reported $1.90 EPS for the quarter, topping the consensus estimate of $0.35 by $1.55. Rocky Brands had a return on equity of 12.44% and a net margin of 5.72%.The business had revenue of $118.37 million during the quarter, compared to analysts’ expectations of $110.08 million.

Rocky Brands Increases Dividend

The firm 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 of this dividend was Monday, June 1st. This represents a $0.68 annualized dividend and a yield of 1.3%. This is an increase from Rocky Brands’s previous quarterly dividend of $0.15. Rocky Brands’s dividend payout ratio (DPR) is currently 17.80%.

Analyst Ratings Changes

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

Institutional Trading of Rocky Brands

A number of institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Rocky Brands by 42.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 83,652 shares of the textile maker’s stock valued at $2,398,000 after purchasing an additional 24,832 shares in the last quarter. Aristides Capital LLC raised its stake in shares of Rocky Brands by 264.6% during the 1st quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker’s stock worth $4,365,000 after purchasing an additional 81,822 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of Rocky Brands by 19.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 129,890 shares of the textile maker’s stock worth $3,810,000 after purchasing an additional 21,028 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Rocky Brands by 160.1% during the 4th 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 during the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Rocky Brands during the 1st quarter valued at about $516,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

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.