Rocky Brands (NASDAQ:RCKY) Director William Jordan Sells 2,011 Shares

Key Points

• Director William Jordan sold 2,011 Rocky Brands shares at an average price of $48.48, generating $97,493.28. His remaining stake fell 8.4% to 21,940 shares.
• Rocky Brands shares rose 4.0% to $50.78, near the company’s 52-week high, after quarterly earnings of $1.90 per share beat estimates by $1.55 and revenue exceeded expectations.
• The company increased its quarterly dividend to $0.17 per share, while analysts maintained an overall “Hold” consensus with an average price target of $56.00.

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) Director William Jordan sold 2,011 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $48.48, for a total value of $97,493.28. Following the sale, the director directly owned 21,940 shares of the company's stock, valued at $1,063,651.20. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Rocky Brands Stock Up 4.0%

Shares of Rocky Brands stock traded up $1.94 on Monday, hitting $50.78. The company had a trading volume of 77,411 shares, compared to its average volume of 57,061. Rocky Brands, Inc. has a 1 year low of $25.08 and a 1 year high of $51.41. 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 stock has a 50 day moving average of $40.41 and a 200-day moving average of $38.76. The stock has a market capitalization of $382.88 million, a price-to-earnings ratio of 13.29 and a beta of 2.35.

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

Rocky Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.17 per share. This is a boost from Rocky Brands's previous quarterly dividend of $0.15. The ex-dividend date was Monday, June 1st. This represents a $0.68 annualized dividend and a yield of 1.3%. Rocky Brands's dividend payout ratio (DPR) is 17.80%.

Institutional Investors Weigh In On Rocky Brands

Several large investors have recently made changes to their positions in RCKY. Empowered Funds LLC increased its position in shares of Rocky Brands by 6.8% during the 1st quarter. Empowered Funds LLC now owns 34,672 shares of the textile maker's stock valued at $602,000 after purchasing an additional 2,205 shares during the last quarter. Strs Ohio purchased a new position in shares of Rocky Brands in the 1st quarter worth about $92,000. Geode Capital Management LLC grew its position in Rocky Brands by 0.8% during the second quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker's stock valued at $3,782,000 after buying an additional 1,303 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Rocky Brands during the second quarter valued at about $572,000. Finally, First Trust Advisors LP increased its holdings in Rocky Brands by 4.2% during the second quarter. First Trust Advisors LP now owns 24,086 shares of the textile maker's stock worth $534,000 after buying an additional 963 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

About Rocky Brands

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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