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

Key Points

• Insider sale: Curtis Loveland sold 3,483 Rocky Brands shares for approximately $176,031 at an average price of $50.54, reducing his direct ownership by 3.62% to 92,610 shares.
• Strong quarterly results: Rocky Brands reported quarterly EPS of $1.90, exceeding analyst expectations of $0.35, while revenue reached $118.37 million versus the $110.08 million consensus estimate.
• Mixed but improving outlook: The company raised its quarterly dividend to $0.17 per share, while analysts maintained an average “Hold” rating and a $56 price target; institutional investors own approximately 75% of the stock.

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) insider Curtis Loveland sold 3,483 shares of the 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Rocky Brands Stock Performance

NASDAQ RCKY traded down $0.52 during trading hours on Wednesday, reaching $49.95. 51,145 shares of the company were exchanged, compared to its average volume of 57,322. Rocky Brands, Inc. has a 1 year low of $25.76 and a 1 year high of $53.01. The business's 50 day simple moving average is $40.98 and its 200-day simple moving average is $39.02. The stock has a market capitalization of $376.67 million, a P/E ratio of 13.08 and a beta of 2.36. The company has a quick ratio of 1.02, a current ratio of 2.90 and a debt-to-equity ratio of 0.45.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The textile maker reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $1.55. The firm had revenue of $118.37 million for the quarter, compared to analysts' expectations of $110.08 million. Rocky Brands had a return on equity of 12.44% and a net margin of 5.72%.

Rocky Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.17 per share. This is a positive change from Rocky Brands's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 1st. Rocky Brands's dividend payout ratio is 17.80%.

Analyst Ratings Changes

Several research firms have weighed in on RCKY. Weiss Ratings reissued a "hold (c+)" rating on shares of Rocky Brands in a research note on Tuesday, May 26th. BTIG Research restated a "neutral" rating on shares of Rocky Brands in a report on Wednesday, July 29th. Robert W. Baird raised their price target 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 research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $56.00.

Hedge Funds Weigh In On Rocky Brands

Hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of Rocky Brands during the fourth quarter worth about $35,000. BNP Paribas Financial Markets raised its position in Rocky Brands by 391.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,645 shares of the textile maker's stock valued at $109,000 after purchasing an additional 2,903 shares during the last quarter. SG Americas Securities LLC bought a new position in Rocky Brands during the 1st quarter valued at approximately $149,000. Deutsche Bank AG lifted its holdings in Rocky Brands by 10.0% in the 4th quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker's stock worth $150,000 after buying an additional 464 shares during the period. Finally, Strs Ohio purchased a new stake in Rocky Brands in the 1st quarter worth approximately $92,000. Hedge funds and other institutional investors 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.

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