Insider Buying: Rocky Brands (NASDAQ:RCKY) Director Buys $24,315.00 in Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director Dwight Eric Smith acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average price of $48.63 per share, for a total transaction of $24,315.00. Following the completion of the acquisition, the director directly owned 16,346 shares of the company’s stock, valued at $794,905.98. The trade was a 3.16% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Rocky Brands Trading Up 4.0%

Rocky Brands stock traded up $1.94 during mid-day trading on Monday, hitting $50.78. The company’s stock had a trading volume of 77,411 shares, compared to its average volume of 57,061. The stock’s fifty day moving average is $40.41 and its two-hundred day moving average is $38.76. The company has a current ratio of 2.90, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $382.88 million, a PE ratio of 13.29 and a beta of 2.35. Rocky Brands, Inc. has a 1 year low of $25.08 and a 1 year high of $51.41.

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

Rocky Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.17 dividend. This is an increase from Rocky Brands’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, June 1st. This represents a $0.68 annualized dividend and a yield of 1.3%. Rocky Brands’s payout ratio is presently 17.80%.

Analysts Set New Price Targets

Several brokerages have weighed in on RCKY. Robert W. Baird increased their target price on shares of Rocky Brands from $53.00 to $56.00 and gave the stock 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 research note on Tuesday, May 26th. BTIG Research restated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $56.00.

Institutional Trading of Rocky Brands

Large investors have recently modified their holdings of the stock. Empowered Funds LLC boosted its holdings in Rocky Brands by 6.8% in the first quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock valued at $602,000 after purchasing an additional 2,205 shares during the period. Strs Ohio purchased a new stake in Rocky Brands during the 1st quarter worth about $92,000. Geode Capital Management LLC increased its holdings in Rocky Brands by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock worth $3,782,000 after purchasing an additional 1,303 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Rocky Brands in the 2nd quarter valued at about $572,000. Finally, First Trust Advisors LP boosted its stake in shares of Rocky Brands by 4.2% in the 2nd quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock valued at $534,000 after buying an additional 963 shares during the period. Hedge funds and other 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.