Rocky Brands, Inc. (NASDAQ:RCKY) Insider Sells $89,433.40 in Stock

Rocky Brands, Inc. (NASDAQ:RCKY) insider Curtis A. Loveland sold 2,515 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.56, for a total value of $89,433.40. Following the sale, the insider now directly owns 96,783 shares of the company’s stock, valued at $3,441,603.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rocky Brands Stock Performance

Shares of RCKY traded up $1.77 during mid-day trading on Wednesday, hitting $36.16. 56,876 shares of the company’s stock were exchanged, compared to its average volume of 32,229. 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 firm has a market cap of $268.31 million, a price-to-earnings ratio of 19.89 and a beta of 1.97. The stock’s 50-day simple moving average is $27.12 and its 200-day simple moving average is $26.62. Rocky Brands, Inc. has a 52 week low of $11.77 and a 52 week high of $37.42.

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

Rocky Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a $0.155 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.62 dividend on an annualized basis and a yield of 1.71%. Rocky Brands’s dividend payout ratio (DPR) is 34.25%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Rocky Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCKY. Raymond James & Associates increased its stake in shares of Rocky Brands by 3.3% in the third quarter. Raymond James & Associates now owns 511,398 shares of the textile maker’s stock valued at $7,518,000 after buying an additional 16,427 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of Rocky Brands by 10.8% during the third quarter. Diamond Hill Capital Management Inc. now owns 171,203 shares of the textile maker’s stock valued at $2,517,000 after acquiring an additional 16,727 shares during the last quarter. Manatuck Hill Partners LLC acquired a new position in shares of Rocky Brands during the third quarter worth $588,000. Quadrature Capital Ltd bought a new stake in shares of Rocky Brands in the third quarter worth $261,000. Finally, SG Americas Securities LLC acquired a new stake in Rocky Brands in the fourth quarter valued at $118,000. 75.06% of the stock is currently owned by 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.