Rocky Brands (NASDAQ:RCKY) Insider Curtis Loveland Sells 3,000 Shares

Rocky Brands, Inc. (NASDAQ:RCKY) insider Curtis Loveland sold 3,000 shares of Rocky Brands stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $49.62, for a total transaction of $148,860.00. Following the completion of the transaction, the insider owned 96,094 shares in the company, valued at approximately $4,768,184.28. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Rocky Brands Price Performance

Shares of RCKY opened at $50.78 on Tuesday. 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 market capitalization of $382.88 million, a price-to-earnings ratio of 13.29 and a beta of 2.35. The firm has a 50-day simple moving average of $40.71 and a 200-day simple moving average of $38.89. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 2.90.

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

Rocky Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid 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 dividend yield of 1.3%. Rocky Brands’s dividend payout ratio (DPR) is 17.80%.

Wall Street Analyst Weigh In

Several research firms have recently commented on RCKY. BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a research note on Saturday. Robert W. Baird upped their price objective on shares of Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.00.

Institutional Trading of Rocky Brands

Institutional investors have recently modified their holdings of the business. Deutsche Bank AG grew its stake in Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after acquiring an additional 464 shares during the last quarter. NewEdge Advisors LLC raised its position in Rocky Brands by 5.4% during the fourth quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock worth $342,000 after acquiring an additional 598 shares during the last quarter. First Trust Advisors LP raised its position in Rocky Brands by 2.8% during the fourth quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock worth $695,000 after acquiring an additional 655 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Rocky Brands by 5.4% in the fourth quarter. Invesco Ltd. now owns 15,262 shares of the textile maker’s stock valued at $448,000 after purchasing an additional 781 shares in the last quarter. Finally, Aristides Capital LLC grew its position in shares of Rocky Brands by 3.3% in the fourth quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker’s stock valued at $907,000 after purchasing an additional 979 shares during the last quarter. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Rocky Brands News Roundup

Here are the key news stories impacting Rocky Brands this week:

• Positive Sentiment: Director Dwight Eric Smith purchased 500 shares for approximately $24,315, increasing his holdings by 3.16%. The purchase may modestly support investor confidence in Rocky Brands’ valuation and outlook. SEC filing for Dwight Eric Smith purchase
• Negative Sentiment: Several insiders sold shares after the stock’s recent rally: CEO Curtis A. Loveland sold 3,000 shares for $148,860; Director Tracie A. Winbigler sold 3,000 shares for $142,350; Director William L. Jordan sold 2,011 shares for $97,493; and Director G. Courtney Haning sold 3,000 shares for $147,180. Collectively, the sales totaled 11,011 shares and roughly $535,883, potentially creating a modest overhang or signaling that some insiders are taking profits near elevated price levels. SEC filing for Curtis A. Loveland sale SEC filing for Tracie A. Winbigler sale SEC filing for William L. Jordan sale SEC filing for G. Courtney Haning sale

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.