Rocky Brands (NASDAQ:RCKY) Director William Jordan Sells 989 Shares of Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director William Jordan sold 989 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $51.87, for a total value of $51,299.43. Following the completion of the sale, the director directly owned 20,951 shares of the company’s stock, valued at approximately $1,086,728.37. This represents a 4.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Rocky Brands Stock Down 1.0%

Shares of NASDAQ:RCKY opened at $49.95 on Thursday. Rocky Brands, Inc. has a 52-week low of $25.76 and a 52-week high of $53.01. The stock has a market cap of $376.62 million, a P/E ratio of 13.08 and a beta of 2.36. The business has a fifty day moving average of $41.22 and a two-hundred day moving average of $39.14. The company has a quick ratio of 1.02, a current ratio of 2.90 and a debt-to-equity ratio of 0.45.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly 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 for the quarter, compared to analyst estimates of $110.08 million.

Rocky Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.17 dividend. This is a positive change from Rocky Brands’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Rocky Brands’s dividend payout ratio is currently 17.80%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RCKY. State of Alaska Department of Revenue acquired a new position in Rocky Brands during the 4th quarter worth about $35,000. BNP Paribas Financial Markets increased its stake in Rocky Brands by 391.2% during the third quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after purchasing an additional 2,903 shares during the period. SG Americas Securities LLC purchased a new stake in Rocky Brands during the first quarter worth about $149,000. Deutsche Bank AG lifted its position in shares of Rocky Brands by 10.0% during the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock worth $150,000 after purchasing an additional 464 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Rocky Brands during the first quarter worth about $92,000. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RCKY has been the topic of a number of recent analyst reports. Robert W. Baird upped their price objective on Rocky Brands from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, July 29th. Wall Street Zen upgraded Rocky Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reissued 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.00.

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.