Tracie Winbigler Sells 3,000 Shares of Rocky Brands (NASDAQ:RCKY) Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director Tracie Winbigler sold 3,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $47.45, for a total value of $142,350.00. Following the transaction, the director owned 14,246 shares of the company’s stock, valued at $675,972.70. The trade was a 17.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Rocky Brands Stock Performance

Shares of RCKY traded up $1.94 during trading hours on Monday, hitting $50.78. The company’s stock had a trading volume of 77,411 shares, compared to its average volume of 57,061. The company has a market cap of $382.88 million, a price-to-earnings ratio of 13.29 and a beta of 2.35. 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 $40.41 and a two-hundred day simple moving average of $38.76. Rocky Brands, Inc. has a 52-week low of $25.08 and a 52-week high of $51.41.

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

Rocky Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.17 dividend. 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. Rocky Brands’s dividend payout ratio is 17.80%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RCKY shares. BTIG Research reaffirmed 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 report on Tuesday, May 26th. Robert W. Baird increased their target price on shares of Rocky Brands from $53.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen upgraded Rocky Brands from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Rocky Brands has a consensus rating of “Hold” and a consensus price target of $56.00.

Institutional Investors Weigh In On Rocky Brands

Large investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. increased its position in shares of Rocky Brands by 32.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 11,774 shares of the textile maker’s stock valued at $486,000 after purchasing an additional 2,917 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Rocky Brands by 154.5% in the 1st quarter. Bank of America Corp DE now owns 14,885 shares of the textile maker’s stock worth $576,000 after acquiring an additional 9,036 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Rocky Brands by 9.8% in the 1st quarter. Empowered Funds LLC now owns 50,106 shares of the textile maker’s stock valued at $1,940,000 after purchasing an additional 4,478 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Rocky Brands by 39.1% during the 1st quarter. Renaissance Technologies LLC now owns 83,535 shares of the textile maker’s stock valued at $3,234,000 after purchasing an additional 23,500 shares during the last quarter. Finally, Aristides Capital LLC raised its position in Rocky Brands by 264.6% in the 1st quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker’s stock worth $4,365,000 after purchasing an additional 81,822 shares during the period. Hedge funds and other institutional investors 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.