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

Rocky Brands, Inc. (NASDAQ:RCKY) Director William Jordan sold 989 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $51.87, for a total transaction of $51,299.43. Following the transaction, the director directly owned 20,951 shares in the company, valued at approximately $1,086,728.37. The trade was a 4.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Rocky Brands Trading Down 0.5%

Shares of NASDAQ:RCKY opened at $49.71 on Friday. The company has a 50 day moving average of $41.44 and a 200-day moving average of $39.26. The firm has a market cap of $372.33 million, a P/E ratio of 13.01 and a beta of 2.36. Rocky Brands, Inc. has a twelve month low of $25.76 and a twelve month high of $53.01. The company has a current ratio of 2.97, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data 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. Rocky Brands had a net margin of 5.72% and a return on equity of 12.28%. The business had revenue of $118.37 million during the quarter, compared to analysts’ expectations of $110.08 million.

Rocky Brands Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its position in shares of Rocky Brands by 6.8% during the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker’s stock valued at $602,000 after acquiring an additional 2,205 shares during the last quarter. Strs Ohio acquired a new position in shares of Rocky Brands in the 1st quarter worth $92,000. Geode Capital Management LLC raised its position 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 purchasing an additional 1,303 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Rocky Brands during the second quarter valued at $572,000. Finally, First Trust Advisors LP lifted its holdings in shares of Rocky Brands by 4.2% during the second quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker’s stock valued at $534,000 after purchasing an additional 963 shares during the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on RCKY. Weiss Ratings reissued a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, July 29th. Wall Street Zen raised Rocky Brands from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Robert W. Baird boosted their price target 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. One equities 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 stock has an average 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.