G Courtney Haning Sells 3,000 Shares of Rocky Brands (NASDAQ:RCKY) Stock

Key Points

• Director G. Courtney Haning sold 3,000 Rocky Brands shares at an average price of $49.06, generating $147,180. After the sale, Haning retained 19,750 shares.
• Rocky Brands reported quarterly EPS of $1.90, exceeding analysts’ $0.35 estimate, while revenue of $118.37 million also topped expectations.
• The stock recently traded at $50.78, near its 52-week high of $51.41. Analysts maintain a consensus “Hold” rating with an average price target of $56, while the company raised its quarterly dividend to $0.17 per share.

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) Director G Courtney Haning sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $49.06, for a total transaction of $147,180.00. Following the transaction, the director owned 19,750 shares in the company, valued at $968,935. This represents a 13.19% decrease 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

RCKY traded up $1.94 during trading on Monday, reaching $50.78. The stock had a trading volume of 77,411 shares, compared to its average volume of 57,061. The firm has a market capitalization of $382.88 million, a price-to-earnings ratio of 13.29 and a beta of 2.35. 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, Inc. has a 1-year low of $25.08 and a 1-year high of $51.41. The stock has a 50 day moving average of $40.41 and a two-hundred day moving average of $38.76.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $110.08 million.

Rocky Brands Increases Dividend

The company also recently announced 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 an increase from Rocky Brands's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 1st. Rocky Brands's dividend payout ratio (DPR) is 17.80%.

Institutional Investors Weigh In On Rocky Brands

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in shares of Rocky Brands during the fourth quarter valued at $35,000. Strs Ohio purchased a new stake in Rocky Brands during the first quarter valued at about $92,000. BNP Paribas Financial Markets boosted its holdings in shares of 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 buying an additional 2,903 shares during the period. SG Americas Securities LLC acquired a new position in shares of Rocky Brands in the first quarter worth about $149,000. Finally, Deutsche Bank AG increased its position in shares of Rocky Brands by 10.0% in the fourth quarter. Deutsche Bank AG now owns 5,113 shares of the textile maker's stock worth $150,000 after acquiring an additional 464 shares in the last quarter. 75.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RCKY shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Rocky Brands in a research report on Tuesday, May 26th. Robert W. Baird raised their price objective on shares of Rocky Brands from $53.00 to $56.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Rocky Brands from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, BTIG Research reiterated a "neutral" rating on shares of Rocky Brands in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.

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