Rocky Brands Inc (NASDAQ:RCKY) Director Michael L. Finn sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $28.13, for a total transaction of $281,300.00. Following the transaction, the director now directly owns 29,153 shares of the company’s stock, valued at approximately $820,073.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of RCKY stock opened at $29.60 on Tuesday. The stock has a market capitalization of $211.46 million, a price-to-earnings ratio of 25.52 and a beta of 0.36. Rocky Brands Inc has a 52 week low of $12.20 and a 52 week high of $30.35.

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

Rocky Brands declared that its board has approved a share buyback program on Monday, March 5th that authorizes the company to repurchase $7.50 million in shares. This repurchase authorization authorizes the textile maker to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 31st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, May 30th. This is a boost from Rocky Brands’s previous quarterly dividend of $0.11. Rocky Brands’s payout ratio is currently 41.38%.

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC purchased a new position in Rocky Brands in the 1st quarter worth approximately $384,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Rocky Brands in the 4th quarter worth approximately $401,000. Investors Research Corp bought a new stake in shares of Rocky Brands in the 4th quarter worth approximately $440,000. Russell Investments Group Ltd. bought a new stake in shares of Rocky Brands in the 1st quarter worth approximately $501,000. Finally, Bailard Inc. bought a new stake in shares of Rocky Brands in the 4th quarter worth approximately $656,000. 60.78% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Rocky Brands from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a report on Friday, April 27th. Robert W. Baird raised their price objective on shares of Rocky Brands from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, April 25th. Finally, ValuEngine raised shares of Rocky Brands from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st.

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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