Insider Buying: Rocky Brands (NASDAQ:RCKY) Director Purchases $24,315.00 in Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director Dwight Eric Smith acquired 500 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was acquired at an average price of $48.63 per share, with a total value of $24,315.00. Following the purchase, the director owned 16,346 shares in the company, valued at approximately $794,905.98. This represents a 3.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rocky Brands Price Performance

Shares of Rocky Brands stock opened at $49.95 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 2.90. The firm’s 50-day simple moving average is $41.22 and its 200-day simple moving average is $39.14. Rocky Brands, Inc. has a twelve month low of $25.76 and a twelve month high of $53.01. The firm has a market cap of $376.62 million, a P/E ratio of 13.08 and a beta of 2.36.

Rocky Brands (NASDAQ:RCKY) last posted its earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $1.55. The business had revenue of $118.37 million for the quarter, compared to analysts’ expectations of $110.08 million. Rocky Brands had a net margin of 5.72% and a return on equity of 12.44%.

Rocky Brands Increases Dividend

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

Institutional Investors Weigh In On Rocky Brands

Large investors have recently bought and sold shares of the business. Deutsche Bank AG increased its stake in shares of Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker’s stock valued at $150,000 after buying an additional 464 shares during the period. NewEdge Advisors LLC boosted its holdings in Rocky Brands by 5.4% in the fourth quarter. NewEdge Advisors LLC now owns 11,657 shares of the textile maker’s stock valued at $342,000 after acquiring an additional 598 shares during the last quarter. First Trust Advisors LP increased its position in Rocky Brands by 2.8% in the fourth quarter. First Trust Advisors LP now owns 23,692 shares of the textile maker’s stock worth $695,000 after purchasing an additional 655 shares during the period. Invesco Ltd. raised its holdings in Rocky Brands by 5.4% during the 4th quarter. Invesco Ltd. now owns 15,262 shares of the textile maker’s stock worth $448,000 after purchasing an additional 781 shares during the last quarter. Finally, Aristides Capital LLC boosted its stake in shares of Rocky Brands by 3.3% in the 4th quarter. Aristides Capital LLC now owns 30,922 shares of the textile maker’s stock valued at $907,000 after purchasing an additional 979 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RCKY has been the topic of several recent analyst reports. Wall Street Zen raised Rocky Brands from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Robert W. Baird lifted 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. Weiss Ratings restated a “hold (c+)” rating on shares of Rocky Brands in a research note on Tuesday, May 26th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.