Insider Selling: Rocky Brands, Inc. (NASDAQ:RCKY) Director Sells $163,900.00 in Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director G Courtney Haning sold 5,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $32.78, for a total transaction of $163,900.00. Following the sale, the director now directly owns 20,686 shares in the company, valued at approximately $678,087.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Rocky Brands Trading Up 3.3 %

NASDAQ RCKY opened at $35.11 on Monday. Rocky Brands, Inc. has a 52 week low of $11.77 and a 52 week high of $35.69. The firm has a 50 day moving average of $26.98 and a two-hundred day moving average of $26.33. The company has a quick ratio of 1.24, a current ratio of 3.61 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $260.52 million, a PE ratio of 19.40 and a beta of 1.97.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Wednesday, February 28th. The textile maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The firm had revenue of $125.95 million during the quarter, compared to the consensus estimate of $128.90 million. Rocky Brands had a net margin of 2.88% and a return on equity of 8.49%.

Rocky Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were given a dividend of $0.155 per share. The ex-dividend date was Friday, March 1st. This represents a $0.62 annualized dividend and a dividend yield of 1.77%. Rocky Brands’s dividend payout ratio is currently 34.25%.

Institutional Investors Weigh In On Rocky Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its holdings in Rocky Brands by 94.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 826 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Rocky Brands by 59.5% during the 1st quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock worth $97,000 after buying an additional 1,332 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Rocky Brands during the 4th quarter worth approximately $118,000. New York State Common Retirement Fund boosted its holdings in shares of Rocky Brands by 1,793.8% in the 4th quarter. New York State Common Retirement Fund now owns 4,564 shares of the textile maker’s stock valued at $138,000 after buying an additional 4,323 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Rocky Brands in the 4th quarter valued at $235,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RCKY shares. Robert W. Baird increased their target price on shares of Rocky Brands from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. StockNews.com cut Rocky Brands from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, B. Riley boosted their target price on Rocky Brands from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th.

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.