Rocky Brands (NASDAQ:RCKY) Director Dwight Eric Smith Buys 500 Shares

Rocky Brands, Inc. (NASDAQ:RCKY) Director Dwight Eric Smith bought 500 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were purchased at an average price of $48.63 per share, with a total value of $24,315.00. Following the completion of the acquisition, the director owned 16,346 shares of the company’s stock, valued at $794,905.98. This trade represents a 3.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rocky Brands Trading Up 4.0%

RCKY opened at $50.78 on Tuesday. Rocky Brands, Inc. has a one year low of $25.08 and a one year high of $51.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.90 and a quick ratio of 1.02. The business has a 50 day simple moving average of $40.71 and a two-hundred day simple moving average of $38.89. The firm has a market capitalization of $382.88 million, a price-to-earnings ratio of 13.29 and a beta of 2.35.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Tuesday, July 28th. The textile maker reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $1.55. Rocky Brands had a return on equity of 12.44% and a net margin of 5.72%.The firm 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. Investors of record on Monday, June 1st were paid a $0.17 dividend. The ex-dividend date of this dividend 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 yield of 1.3%. Rocky Brands’s payout ratio is 17.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its stake 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 worth $602,000 after acquiring an additional 2,205 shares during the last quarter. Strs Ohio purchased a new position in shares of Rocky Brands in the 1st quarter worth about $92,000. Geode Capital Management LLC raised its position in shares of Rocky Brands by 0.8% in the 2nd 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 last quarter. Arrowstreet Capital Limited Partnership bought a new position in Rocky Brands in the 2nd quarter worth about $572,000. Finally, First Trust Advisors LP boosted its stake 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 worth $534,000 after purchasing an additional 963 shares in the last quarter. Institutional investors own 75.06% of the company’s stock.

Wall Street Analyst Weigh In

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

Key Headlines Impacting Rocky Brands

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.