Insider Buying: Rocky Brands (NASDAQ:RCKY) Director Acquires 500 Shares of Stock

by · The Markets Daily

Rocky Brands, Inc. (NASDAQ:RCKY – Get Free Report) Director Dwight Eric Smith acquired 500 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was acquired at an average price of $48.63 per share, for a total transaction of $24,315.00. Following the purchase, the director directly owned 16,346 shares of the company’s stock, valued at approximately $794,905.98. This trade represents a 3.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rocky Brands Stock Performance

NASDAQ RCKY traded up $1.94 on Monday, reaching $50.78. 77,411 shares of the company’s stock traded hands, compared to its average volume of 57,061. Rocky Brands, Inc. has a fifty-two week low of $25.08 and a fifty-two week high of $51.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 2.90. The firm has a market cap of $382.88 million, a price-to-earnings ratio of 13.29 and a beta of 2.35. The stock has a 50 day moving average price of $40.41 and a 200-day moving average price of $38.76.

Rocky Brands (NASDAQ:RCKY – Get Free Report) last announced its quarterly earnings results 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. Rocky Brands had a return on equity of 12.44% and a net margin of 5.72%.The company had revenue of $118.37 million for the quarter, compared to the consensus estimate of $110.08 million.

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 dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from Rocky Brands’s previous quarterly dividend of $0.15. Rocky Brands’s dividend payout ratio is 17.80%.

Institutional Investors Weigh In On Rocky Brands

A number of large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in Rocky Brands by 42.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 83,652 shares of the textile maker’s stock worth $2,398,000 after buying an additional 24,832 shares during the last quarter. Aristides Capital LLC raised its holdings in shares of Rocky Brands by 264.6% during the 1st quarter. Aristides Capital LLC now owns 112,744 shares of the textile maker’s stock worth $4,365,000 after acquiring an additional 81,822 shares during the period. Deprince Race & Zollo Inc. boosted its position in shares of Rocky Brands by 19.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 129,890 shares of the textile maker’s stock valued at $3,810,000 after acquiring an additional 21,028 shares during the last quarter. LSV Asset Management grew its holdings in shares of 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 purchasing an additional 90,103 shares during the period. Finally, Walleye Capital LLC acquired a new stake in Rocky Brands during the first quarter worth about $516,000. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Robert W. Baird increased their target price 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. Wall Street Zen raised shares of Rocky Brands from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Rocky Brands in a research report on Tuesday, May 26th. Finally, BTIG Research reiterated a “neutral” rating on shares of Rocky Brands in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.00.

Get Our Latest Report on RCKY

About Rocky Brands

(Get Free Report)

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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