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

Rocky Brands, Inc. (NASDAQ:RCKY) insider Curtis Loveland sold 3,483 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $50.54, for a total value of $176,030.82. Following the completion of the sale, the insider directly owned 92,610 shares of the company’s stock, valued at $4,680,509.40. The trade was a 3.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rocky Brands Trading Down 1.0%

Rocky Brands stock traded down $0.52 during mid-day trading on Wednesday, reaching $49.95. 51,145 shares of the company traded hands, compared to its average volume of 57,322. 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 firm’s 50 day moving average price is $40.98 and its 200 day moving average price is $39.02. The firm has a market capitalization of $376.67 million, a price-to-earnings ratio of 13.08 and a beta of 2.36. Rocky Brands, Inc. has a 52-week low of $25.76 and a 52-week high of $53.01.

Rocky Brands (NASDAQ:RCKY) last issued 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 business had revenue of $118.37 million during the quarter, compared to analyst estimates of $110.08 million.

Rocky Brands Increases Dividend

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

Institutional Trading of Rocky Brands

A number of hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue purchased a new position in Rocky Brands during the 4th quarter valued at about $35,000. Strs Ohio purchased a new stake in Rocky Brands in the first quarter worth about $92,000. BNP Paribas Financial Markets grew its holdings in Rocky Brands by 391.2% in the third quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker’s stock worth $109,000 after purchasing an additional 2,903 shares during the period. SG Americas Securities LLC bought a new position in shares of Rocky Brands during the first quarter valued at approximately $149,000. Finally, Deutsche Bank AG increased its stake in shares of Rocky Brands by 10.0% during the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after purchasing an additional 464 shares in the last quarter. Institutional investors own 75.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.