Rocky Brands, Inc. (NASDAQ:RCKY) Director Dwight Eric Smith Purchases 1,000 Shares

Rocky Brands, Inc. (NASDAQ:RCKY) Director Dwight Eric Smith bought 1,000 shares of Rocky Brands stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $18.61 per share, with a total value of $18,610.00. Following the acquisition, the director now owns 11,155 shares in the company, valued at approximately $207,594.55. This represents a 9.85 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rocky Brands Trading Up 3.3 %

Shares of NASDAQ:RCKY opened at $19.16 on Friday. The stock’s 50-day simple moving average is $23.28 and its two-hundred day simple moving average is $25.44. The stock has a market capitalization of $142.82 million, a price-to-earnings ratio of 10.76 and a beta of 2.10. Rocky Brands, Inc. has a 52-week low of $18.22 and a 52-week high of $40.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79.

Rocky Brands (NASDAQ:RCKY) last released its earnings results on Tuesday, February 25th. The textile maker reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%. The firm had revenue of $128.05 million for the quarter, compared to analysts’ expectations of $125.44 million.

Rocky Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, March 3rd. Rocky Brands’s dividend payout ratio is currently 41.06%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Rocky Brands from a “buy” rating to a “hold” rating in a report on Saturday, February 8th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RCKY. Geode Capital Management LLC grew its holdings in Rocky Brands by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 168,315 shares of the textile maker’s stock valued at $5,364,000 after buying an additional 7,353 shares in the last quarter. Waterfront Wealth Inc. bought a new position in shares of Rocky Brands during the fourth quarter worth $431,000. Barclays PLC grew its stake in Rocky Brands by 292.3% during the third quarter. Barclays PLC now owns 9,757 shares of the textile maker’s stock valued at $311,000 after acquiring an additional 7,270 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Rocky Brands by 133.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,182 shares of the textile maker’s stock valued at $261,000 after acquiring an additional 4,683 shares during the last quarter. Finally, FMR LLC increased its holdings in Rocky Brands by 0.3% in the 3rd quarter. FMR LLC now owns 1,117,353 shares of the textile maker’s stock valued at $35,599,000 after acquiring an additional 3,883 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Company Profile

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.