Rocky Brands, Inc. (NASDAQ:RCKY – Get Free Report) insider Curtis A. Loveland sold 2,515 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $35.56, for a total transaction of $89,433.40. Following the sale, the insider now directly owns 96,783 shares of the company’s stock, valued at approximately $3,441,603.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Rocky Brands Stock Performance
Shares of RCKY traded up $1.77 during trading hours on Wednesday, hitting $36.16. The stock had a trading volume of 56,876 shares, compared to its average volume of 32,229. The firm has a market capitalization of $268.31 million, a PE ratio of 19.89 and a beta of 1.97. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.61 and a quick ratio of 1.24. Rocky Brands, Inc. has a 12 month low of $11.77 and a 12 month high of $37.42. The stock has a fifty day moving average price of $27.12 and a 200 day moving average price of $26.62.
Rocky Brands (NASDAQ:RCKY – Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.09. The business had revenue of $125.95 million for the quarter, compared to analysts’ expectations of $128.90 million. Rocky Brands had a net margin of 2.88% and a return on equity of 8.49%.
Rocky Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Friday, March 1st. Rocky Brands’s dividend payout ratio (DPR) is currently 34.25%.
Analyst Ratings Changes
RCKY has been the subject of a number of research analyst reports. Robert W. Baird lifted their target price on Rocky Brands from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. StockNews.com lowered Rocky Brands from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, B. Riley lifted their price target on shares of Rocky Brands from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th.
Hedge Funds Weigh In On Rocky Brands
Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Rocky Brands in the 4th quarter worth about $118,000. Allspring Global Investments Holdings LLC increased its stake in Rocky Brands by 22.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 89,584 shares of the textile maker’s stock worth $2,704,000 after purchasing an additional 16,220 shares during the period. Quadrature Capital Ltd bought a new position in shares of Rocky Brands in the third quarter worth about $261,000. Diamond Hill Capital Management Inc. raised its position in Rocky Brands by 10.8% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 171,203 shares of the textile maker’s stock valued at $2,517,000 after purchasing an additional 16,727 shares in the last quarter. Finally, Manatuck Hill Partners LLC bought a new position in Rocky Brands during the 3rd quarter worth about $588,000. 75.06% of the stock is owned by hedge funds and other 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.