Rocky Brands, Inc. (NASDAQ:RCKY) Director Dwight Eric Smith Acquires 1,000 Shares

Rocky Brands, Inc. (NASDAQ:RCKY) Director Dwight Eric Smith bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $18.61 per share, with a total value of $18,610.00. Following the completion of the purchase, the director now directly owns 11,155 shares of the company’s stock, valued at approximately $207,594.55. The trade was a 9.85 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Rocky Brands Stock Performance

Rocky Brands stock opened at $19.66 on Friday. The firm has a market capitalization of $146.55 million, a P/E ratio of 11.05 and a beta of 2.10. The stock has a fifty day moving average price of $23.19 and a 200 day moving average price of $25.40. Rocky Brands, Inc. has a 52 week low of $18.22 and a 52 week high of $40.14. The company has a current ratio of 2.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, February 25th. The textile maker reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). The business had revenue of $128.05 million during the quarter, compared to analyst estimates of $125.44 million. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%.

Rocky Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.155 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.62 annualized dividend and a yield of 3.15%. Rocky Brands’s dividend payout ratio is presently 41.06%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Rocky Brands from a “buy” rating to a “hold” rating in a research note on Saturday, February 8th.

Institutional Investors Weigh In On Rocky Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCKY. Summit Global Investments acquired a new stake in Rocky Brands during the third quarter worth about $341,000. Empowered Funds LLC increased its stake in Rocky Brands by 5.0% during the third quarter. Empowered Funds LLC now owns 30,994 shares of the textile maker’s stock worth $987,000 after acquiring an additional 1,474 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Rocky Brands by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,999 shares of the textile maker’s stock worth $669,000 after acquiring an additional 1,001 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Rocky Brands during the third quarter worth about $224,000. Finally, FMR LLC increased its stake in Rocky Brands by 0.3% during the third quarter. FMR LLC now owns 1,117,353 shares of the textile maker’s stock worth $35,599,000 after acquiring an additional 3,883 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors and hedge funds.

About Rocky Brands

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.