Insider Selling: Rocky Brands (NASDAQ:RCKY) Director Sells $142,350.00 in Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director Tracie Winbigler sold 3,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $47.45, for a total transaction of $142,350.00. Following the completion of the transaction, the director owned 14,246 shares in the company, valued at $675,972.70. This represents a 17.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rocky Brands Stock Down 1.0%

RCKY stock opened at $49.95 on Thursday. The stock has a market cap of $376.62 million, a P/E ratio of 13.08 and a beta of 2.36. 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, Inc. has a twelve month low of $25.76 and a twelve month high of $53.01. The company’s 50 day moving average is $41.22 and its two-hundred day moving average is $39.14.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, beating 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 net margin of 5.72% and a return on equity of 12.44%.

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 given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. This is a boost from Rocky Brands’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 1st. Rocky Brands’s dividend payout ratio is presently 17.80%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RCKY. Allspring Global Investments Holdings LLC lifted its position 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 during the period. Aristides Capital LLC increased its position in 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 during the period. Deprince Race & Zollo Inc. increased its position in 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 during the period. LSV Asset Management raised its stake 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 worth $4,293,000 after buying an additional 90,103 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Rocky Brands during the 1st quarter worth approximately $516,000. 75.06% of the stock is currently owned by institutional investors and hedge funds.

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.