Insider Selling: Rocky Brands (NASDAQ:RCKY) Insider Sells $176,030.82 in Stock

Rocky Brands, Inc. (NASDAQ:RCKY) insider Curtis Loveland sold 3,483 shares of the business’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 value of $176,030.82. Following the completion of the sale, the insider owned 92,610 shares in the company, valued at $4,680,509.40. The trade was a 3.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rocky Brands Price Performance

Shares of RCKY opened at $49.23 on Friday. The company has a quick ratio of 1.02, a current ratio of 2.97 and a debt-to-equity ratio of 0.43. Rocky Brands, Inc. has a twelve month low of $25.76 and a twelve month high of $53.01. The stock has a market capitalization of $368.73 million, a P/E ratio of 12.89 and a beta of 2.36. The company has a 50 day moving average of $41.65 and a 200-day moving average of $39.33.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Tuesday, July 28th. The textile maker reported $1.90 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $110.08 million.

Rocky Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.17 per share. This is a boost 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 yield of 1.4%. Rocky Brands’s payout ratio is presently 17.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Robert W. Baird raised 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 reiterated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. Wall Street Zen raised Rocky Brands from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings upgraded Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

Institutional Trading of Rocky Brands

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Rocky Brands by 42.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 83,652 shares of the textile maker’s stock worth $2,398,000 after purchasing an additional 24,832 shares during the last quarter. Aristides Capital LLC lifted its stake in Rocky Brands by 264.6% in the 1st quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker’s stock valued at $4,365,000 after purchasing an additional 81,822 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in Rocky Brands by 19.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 129,890 shares of the textile maker’s stock valued at $3,810,000 after purchasing an additional 21,028 shares during the last quarter. LSV Asset Management grew its holdings in Rocky Brands by 160.1% during the fourth quarter. LSV Asset Management now owns 146,365 shares of the textile maker’s stock worth $4,293,000 after purchasing an additional 90,103 shares during the period. Finally, Walleye Capital LLC bought a new position in Rocky Brands during the first quarter worth about $516,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

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.