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

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

Rocky Brands Stock Performance

Shares of NASDAQ:RCKY traded down $0.09 during midday trading on Friday, hitting $29.74. The stock had a trading volume of 140,724 shares, compared to its average volume of 63,110. Rocky Brands, Inc. has a 1 year low of $11.93 and a 1 year high of $33.40. The company has a current ratio of 2.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $29.05 and a two-hundred day moving average price of $24.87. The company has a market capitalization of $222.10 million, a PE ratio of 10.85 and a beta of 2.49.

Rocky Brands (NASDAQ:RCKY) last announced its quarterly earnings data on Tuesday, October 28th. The textile maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. Rocky Brands had a net margin of 4.37% and a return on equity of 11.15%. The firm had revenue of $122.54 million during the quarter, compared to the consensus estimate of $122.92 million.

Rocky Brands Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RCKY. Robert W. Baird set a $42.00 price target on shares of Rocky Brands in a research note on Wednesday, October 29th. Baird R W raised Rocky Brands from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. BTIG Research reaffirmed 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 report on Wednesday, October 8th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Institutional Trading of Rocky Brands

A number of institutional investors and hedge funds have recently made changes to their positions in RCKY. Raymond James Financial Inc. boosted its holdings in 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 acquiring an additional 109,012 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Rocky Brands by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 421,576 shares of the textile maker’s stock worth $12,559,000 after purchasing an additional 8,892 shares during the period. American Century Companies Inc. lifted its stake in shares of Rocky Brands by 5.1% in the 2nd quarter. American Century Companies Inc. now owns 247,352 shares of the textile maker’s stock valued at $5,489,000 after purchasing an additional 11,941 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Rocky Brands by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker’s stock valued at $3,782,000 after purchasing an additional 1,303 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Rocky Brands by 19.8% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 136,554 shares of the textile maker’s stock worth $2,372,000 after purchasing an additional 22,596 shares during the period. 75.06% of the stock is currently owned by institutional investors and hedge funds.

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.