William L. Jordan Sells 5,000 Shares of Rocky Brands (NASDAQ:RCKY) Stock

Key Points

• Rocky Brands Director William Jordan sold 5,000 shares at an average price of $30.10, leading to a 21.11% reduction in his holdings, leaving him with 18,683 shares valued at $562,358.30.
• Shares of Rocky Brands, Inc. experienced a 1.4% decline in trading, reaching $30.00, with a market capitalization of approximately $224.10 million.
• The company announced a quarterly dividend of $0.155, resulting in an annualized yield of 2.1%, to be paid to shareholders of record on September 2nd.

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) Director William L. Jordan sold 5,000 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $30.10, for a total transaction of $150,500.00. Following the sale, the director directly owned 18,683 shares of the company's stock, valued at $562,358.30. The trade was a 21.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rocky Brands Stock Performance

Shares of NASDAQ RCKY traded down $0.76 during midday trading on Friday, hitting $29.12. 31,086 shares of the company's stock traded hands, compared to its average volume of 60,056. The firm has a fifty day moving average of $25.87 and a 200 day moving average of $21.35. The stock has a market capitalization of $217.53 million, a price-to-earnings ratio of 11.74 and a beta of 2.41. Rocky Brands, Inc. has a 1 year low of $11.93 and a 1 year high of $33.04. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.79 and a current ratio of 2.76.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last released its earnings results on Tuesday, July 29th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.31. The company had revenue of $105.65 million during the quarter, compared to analyst estimates of $102.54 million. Rocky Brands had a net margin of 4.03% and a return on equity of 10.41%.

Rocky Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Rocky Brands's dividend payout ratio is currently 25.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Baird R W raised shares of Rocky Brands from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Robert W. Baird raised shares of Rocky Brands from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $30.00 to $40.00 in a report on Tuesday, August 26th. Finally, Wall Street Zen downgraded Rocky Brands from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Strong Buy" and an average price target of $40.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. boosted its position in shares of Rocky Brands by 24.3% during the 2nd quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker's stock valued at $12,371,000 after acquiring an additional 109,012 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Rocky Brands by 686.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 85,553 shares of the textile maker's stock valued at $1,898,000 after acquiring an additional 74,668 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Rocky Brands by 128.5% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 123,262 shares of the textile maker's stock valued at $2,735,000 after acquiring an additional 69,313 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Rocky Brands during the 1st quarter valued at approximately $606,000. Finally, Koss Olinger Consulting LLC bought a new position in shares of Rocky Brands during the 1st quarter valued at approximately $476,000. 75.06% of the stock is currently owned by institutional investors.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.