Insider Buying: Rocky Brands, Inc. (NASDAQ:RCKY) Director Buys 1,000 Shares of Stock

Rocky Brands, Inc. (NASDAQ:RCKY) Director Dwight Eric Smith acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $18.61 per share, with a total value of $18,610.00. Following the acquisition, the director now directly owns 11,155 shares of the company’s stock, valued at $207,594.55. This trade represents a 9.85 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rocky Brands Trading Up 2.6 %

Shares of RCKY stock opened at $19.66 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.79 and a quick ratio of 0.93. The firm has a market cap of $146.55 million, a PE ratio of 11.05 and a beta of 2.18. The company has a 50-day moving average of $23.13 and a two-hundred day moving average of $25.30. Rocky Brands, Inc. has a 1-year low of $18.22 and a 1-year high of $40.14.

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

Rocky Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.155 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.62 annualized dividend and a yield of 3.15%. Rocky Brands’s dividend payout ratio (DPR) is 41.06%.

Analyst Ratings Changes

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

Institutional Trading of Rocky Brands

Several hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP raised its holdings in Rocky Brands by 3.6% in the fourth quarter. Two Sigma Investments LP now owns 13,088 shares of the textile maker’s stock valued at $298,000 after acquiring an additional 459 shares in the last quarter. Man Group plc raised its holdings in Rocky Brands by 54.0% in the fourth quarter. Man Group plc now owns 20,710 shares of the textile maker’s stock valued at $472,000 after acquiring an additional 7,263 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Rocky Brands by 13.9% in the fourth quarter. Nuveen Asset Management LLC now owns 19,862 shares of the textile maker’s stock valued at $453,000 after acquiring an additional 2,431 shares in the last quarter. Millennium Management LLC increased its stake in Rocky Brands by 185.9% in the fourth quarter. Millennium Management LLC now owns 30,913 shares of the textile maker’s stock valued at $705,000 after purchasing an additional 20,100 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Rocky Brands by 125.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 29,412 shares of the textile maker’s stock valued at $671,000 after purchasing an additional 16,371 shares during the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.

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.