Rocky Brands (NASDAQ:RCKY) Insider Curtis Loveland Sells 3,483 Shares of Stock

Rocky Brands, Inc. (NASDAQ:RCKY) insider Curtis Loveland sold 3,483 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $50.54, for a total transaction of $176,030.82. Following the completion of the transaction, the insider directly owned 92,610 shares of the company’s stock, valued at approximately $4,680,509.40. The trade was a 3.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rocky Brands Trading Down 1.0%

Shares of RCKY stock opened at $49.95 on Thursday. Rocky Brands, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $53.01. The company has a 50 day moving average price of $41.22 and a 200 day moving average price of $39.14. The stock has a market capitalization of $376.62 million, a P/E ratio of 13.08 and a beta of 2.36. 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 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 company had revenue of $118.37 million for the quarter, compared to analyst estimates 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 company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.17 per share. The ex-dividend date was Monday, June 1st. This is a positive change from Rocky Brands’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Rocky Brands’s payout ratio is currently 17.80%.

Wall Street Analysts Forecast Growth

RCKY has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Rocky Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Robert W. Baird lifted their target price on Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rocky Brands in a research report on Tuesday, May 26th. Finally, BTIG Research restated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, July 29th. One 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, Rocky Brands presently has an average rating of “Hold” and an average price target of $56.00.

Institutional Trading of Rocky Brands

Large investors have recently bought and sold shares of the business. Empowered Funds LLC raised its holdings in shares of 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 buying an additional 2,205 shares during the last quarter. Strs Ohio purchased a new position in shares of Rocky Brands during the first quarter worth about $92,000. Geode Capital Management LLC grew its holdings in shares of Rocky Brands by 0.8% during the second quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock worth $3,782,000 after buying an additional 1,303 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Rocky Brands in the 2nd quarter valued at about $572,000. Finally, First Trust Advisors LP increased its position in 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 acquiring an additional 963 shares during the period. Institutional investors and hedge funds own 75.06% of the company’s stock.

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.