James L. Stewart Sells 1,332 Shares of Rocky Brands Inc (NASDAQ:RCKY) Stock

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Rocky Brands Inc (NASDAQ:RCKY) Director James L. Stewart sold 1,332 shares of the stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $28.84, for a total value of $38,414.88. Following the completion of the sale, the director now owns 24,657 shares of the company’s stock, valued at approximately $711,107.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Rocky Brands traded down $0.30, hitting $28.55, during mid-day trading on Friday, MarketBeat reports. 942,830 shares of the company’s stock traded hands, compared to its average volume of 82,095. The company has a market capitalization of $213.69 million, a P/E ratio of 20.61 and a beta of 0.36. Rocky Brands Inc has a one year low of $12.20 and a one year high of $30.30.

Rocky Brands (NASDAQ:RCKY) last announced its earnings results on Tuesday, April 24th. The textile maker reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.19. Rocky Brands had a return on equity of 7.40% and a net margin of 4.51%. The firm had revenue of $61.39 million for the quarter, compared to the consensus estimate of $61.60 million. equities research analysts predict that Rocky Brands Inc will post 1.5 earnings per share for the current year.

Rocky Brands declared that its Board of Directors has initiated a stock repurchase plan on Monday, March 5th that permits the company to buyback $7.50 million in outstanding shares. This buyback authorization permits the textile maker to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Thursday, May 31st were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 30th. This is a boost from Rocky Brands’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.68%. Rocky Brands’s dividend payout ratio (DPR) is 41.38%.

Several hedge funds have recently modified their holdings of RCKY. California Public Employees Retirement System grew its holdings in shares of Rocky Brands by 8.3% in the 1st quarter. California Public Employees Retirement System now owns 53,373 shares of the textile maker’s stock worth $1,145,000 after acquiring an additional 4,076 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Rocky Brands by 15.4% in the 4th quarter. Macquarie Group Ltd. now owns 40,653 shares of the textile maker’s stock worth $768,000 after acquiring an additional 5,424 shares during the last quarter. ClariVest Asset Management LLC grew its holdings in shares of Rocky Brands by 12.6% in the 1st quarter. ClariVest Asset Management LLC now owns 64,242 shares of the textile maker’s stock worth $1,378,000 after acquiring an additional 7,173 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Rocky Brands by 35.9% during the fourth quarter. Deutsche Bank AG now owns 61,585 shares of the textile maker’s stock valued at $1,163,000 after buying an additional 16,285 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Rocky Brands during the first quarter valued at $384,000. Institutional investors own 60.78% of the company’s stock.

RCKY has been the subject of a number of recent analyst reports. ValuEngine upgraded Rocky Brands from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded Rocky Brands from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 25th. Finally, Robert W. Baird increased their target price on Rocky Brands from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, April 25th.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and Michelin brand names in the United States, Canada, and internationally. The company operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.

Insider Buying and Selling by Quarter for Rocky Brands (NASDAQ:RCKY)

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