G Courtney Haning Sells 5,000 Shares of Rocky Brands, Inc. (NASDAQ:RCKY) Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director G Courtney Haning sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $32.78, for a total transaction of $163,900.00. Following the completion of the sale, the director now directly owns 20,686 shares of the company’s stock, valued at $678,087.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rocky Brands Trading Up 3.3 %

NASDAQ RCKY opened at $35.11 on Friday. The stock has a market capitalization of $260.52 million, a P/E ratio of 19.40 and a beta of 1.97. Rocky Brands, Inc. has a 52-week low of $11.77 and a 52-week high of $35.69. The firm has a 50-day moving average price of $26.98 and a 200 day moving average price of $26.25. The company has a quick ratio of 1.24, a current ratio of 3.61 and a debt-to-equity ratio of 0.76.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly 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 firm had revenue of $125.95 million during the quarter, compared to analysts’ expectations of $128.90 million. Rocky Brands had a net margin of 2.88% and a return on equity of 8.49%.

Rocky Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were issued 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 1.77%. Rocky Brands’s dividend payout ratio (DPR) is presently 34.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its holdings in Rocky Brands by 59.5% in the first quarter. BNP Paribas Financial Markets now owns 3,570 shares of the textile maker’s stock valued at $97,000 after buying an additional 1,332 shares in the last quarter. Yarger Wealth Strategies LLC purchased a new position in Rocky Brands in the first quarter valued at about $245,000. Allspring Global Investments Holdings LLC increased its holdings in Rocky Brands by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 106,436 shares of the textile maker’s stock valued at $2,888,000 after buying an additional 16,852 shares in the last quarter. Aristides Capital LLC increased its holdings in Rocky Brands by 3.5% in the fourth quarter. Aristides Capital LLC now owns 42,647 shares of the textile maker’s stock valued at $1,287,000 after buying an additional 1,441 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Rocky Brands by 94.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,700 shares of the textile maker’s stock valued at $51,000 after buying an additional 826 shares in the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.