Insider Selling: Rocky Brands (NASDAQ:RCKY) Director Sells 5,000 Shares of 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 Jordan sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was 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 filing with the SEC, which is accessible through this link.

Rocky Brands Stock Down 1.4%

Shares of RCKY stock traded down $0.43 during mid-day trading on Tuesday, reaching $30.00. 58,030 shares of the company were exchanged, compared to its average volume of 62,499. The company has a market capitalization of $224.10 million, a P/E ratio of 12.10 and a beta of 2.41. The business's 50 day simple moving average is $25.25 and its 200 day simple moving average is $21.19. 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, Inc. has a fifty-two week low of $11.93 and a fifty-two week high of $33.04.

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

Rocky Brands Dividend Announcement

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

Institutional Investors Weigh In On Rocky Brands

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Rocky Brands by 20,076.9% in the first quarter. GAMMA Investing LLC now owns 5,246 shares of the textile maker's stock worth $91,000 after acquiring an additional 5,220 shares in the last quarter. Strs Ohio bought a new stake in Rocky Brands in the first quarter worth about $92,000. Wells Fargo & Company MN raised its position in Rocky Brands by 31.2% in the fourth quarter. Wells Fargo & Company MN now owns 4,236 shares of the textile maker's stock worth $97,000 after acquiring an additional 1,007 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Rocky Brands in the second quarter worth about $155,000. Finally, Bank of America Corp DE raised its position in Rocky Brands by 51.8% in the fourth quarter. Bank of America Corp DE now owns 8,863 shares of the textile maker's stock worth $202,000 after acquiring an additional 3,025 shares in the last quarter. 75.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RCKY shares. Baird R W upgraded Rocky Brands from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Wall Street Zen cut Rocky Brands from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Robert W. Baird upgraded Rocky Brands from a "neutral" rating to an "outperform" rating and raised their target price for the company from $30.00 to $40.00 in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Strong Buy" and a consensus target price of $40.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.