William Jordan Sells 989 Shares of Rocky Brands (NASDAQ:RCKY) Stock

Key Points

• Director William Jordan sold 989 Rocky Brands shares for approximately $51,299, reducing his direct stake by 4.51% to 20,951 shares.
• Rocky Brands reported strong quarterly results, with earnings per share of $1.90 versus the $0.35 consensus estimate and revenue of $118.37 million, above expectations.
• The stock traded near $49.95, while analysts maintained a consensus “Hold” rating with an average price target of $56.00; the company also increased its quarterly dividend to $0.17 per share.

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) Director William Jordan sold 989 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $51.87, for a total transaction of $51,299.43. Following the sale, the director directly owned 20,951 shares in the company, valued at approximately $1,086,728.37. The trade was a 4.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rocky Brands Stock Performance

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

Rocky Brands (NASDAQ:RCKY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The textile maker reported $1.90 earnings per share for the quarter, topping the consensus estimate 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 net margin of 5.72% and a return on equity of 12.44%.

Rocky Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Rocky Brands's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 1st. Rocky Brands's dividend payout ratio is currently 17.80%.

Analyst Ratings Changes

RCKY has been the subject of a number of research analyst reports. Wall Street Zen upgraded Rocky Brands from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rocky Brands in a research report on Tuesday, May 26th. Robert W. Baird upped their price objective on shares of Rocky Brands from $53.00 to $56.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Rocky Brands in a research 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $56.00.

Institutional Trading of Rocky Brands

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. lifted its stake in Rocky Brands by 24.3% during the second quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker's stock worth $12,371,000 after purchasing an additional 109,012 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Rocky Brands by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 421,576 shares of the textile maker's stock worth $12,559,000 after acquiring an additional 8,892 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Rocky Brands by 0.8% in the 2nd 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 in the last quarter. LSV Asset Management boosted its stake in Rocky Brands by 160.1% in the fourth quarter. LSV Asset Management now owns 146,365 shares of the textile maker's stock valued at $4,293,000 after acquiring an additional 90,103 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Rocky Brands by 9.6% during the 4th quarter. Russell Investments Group Ltd. now owns 132,751 shares of the textile maker's stock worth $3,894,000 after buying an additional 11,634 shares during the last quarter. Hedge funds and other institutional investors own 75.06% of the company's stock.

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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