Rocky Brands (NASDAQ:RCKY) SVP Byron Wortham Sells 6,600 Shares of Stock

Rocky Brands, Inc. (NASDAQ:RCKY) SVP Byron Wortham sold 6,600 shares of Rocky Brands stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $29.90, for a total transaction of $197,340.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Rocky Brands Trading Down 0.3%

Shares of Rocky Brands stock opened at $29.74 on Friday. Rocky Brands, Inc. has a 52-week low of $11.93 and a 52-week high of $33.40. The firm has a market capitalization of $222.10 million, a PE ratio of 10.85 and a beta of 2.49. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.76 and a quick ratio of 0.79. The company’s fifty day moving average price is $29.04 and its two-hundred day moving average price is $24.99.

Rocky Brands (NASDAQ:RCKY) last issued its earnings results on Tuesday, October 28th. The textile maker reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. The business had revenue of $122.54 million for the quarter, compared to analyst estimates of $122.92 million. Rocky Brands had a net margin of 4.37% and a return on equity of 11.15%.

Rocky Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. Rocky Brands’s payout ratio is presently 22.63%.

Institutional Trading of Rocky Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in RCKY. Raymond James Financial Inc. raised its holdings in shares of Rocky Brands by 24.3% in the second quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker’s stock valued at $12,371,000 after buying an additional 109,012 shares during the last quarter. Russell Investments Group Ltd. increased its position in Rocky Brands by 686.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 85,553 shares of the textile maker’s stock valued at $1,898,000 after acquiring an additional 74,668 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in Rocky Brands by 128.5% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 123,262 shares of the textile maker’s stock valued at $2,735,000 after acquiring an additional 69,313 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Rocky Brands in the third quarter worth about $1,772,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Rocky Brands during the first quarter worth approximately $606,000. 75.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BTIG Research reissued a “neutral” rating on shares of Rocky Brands in a report on Wednesday, October 29th. Robert W. Baird set a $42.00 price target on Rocky Brands in a research report on Wednesday, October 29th. Citigroup reiterated a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Rocky Brands in a research note on Wednesday, October 8th. Finally, Baird R W raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Rocky Brands has an average rating of “Moderate Buy” and a consensus price target of $42.00.

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.