Declared Dividend • May 21
First quarter dividend increased to US$0.17 Dividend of US$0.17 is 9.7% higher than last year. Ex-date: 1st June 2026 Payment date: 15th June 2026 Dividend yield will be 1.8%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 72% to shift the payout ratio to a potentially unsustainable range, which is more than the 5.9% EPS decline seen over the last 5 years. Announcement • May 20
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on June 15, 2026 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.17 per share of outstanding common stock, which will be paid on June 15, 2026, to all shareholders of record as of the close of business on June 1, 2026. Valuation Update With 7 Day Price Move • May 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$36.39, the stock trades at a trailing P/E ratio of 14.8x. Average forward P/E is 14x in the Luxury industry in the US. Total returns to shareholders of 96% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$25.42 per share. Announcement • Apr 30
Rocky Brands, Inc., Annual General Meeting, Jun 03, 2026 Rocky Brands, Inc., Annual General Meeting, Jun 03, 2026. Location: ohio university inn & conference center, 331 richland avenue, ohio 45701, athens United States Reported Earnings • Apr 29
First quarter 2026 earnings released: EPS: US$0.17 (vs US$0.66 in 1Q 2025) First quarter 2026 results: EPS: US$0.17 (down from US$0.66 in 1Q 2025). Revenue: US$124.4m (up 9.1% from 1Q 2025). Net income: US$1.26m (down 75% from 1Q 2025). Profit margin: 1.0% (down from 4.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Luxury industry in the US. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 20% per year. Announcement • Apr 22
Rocky Brands, Inc. to Report Q1, 2026 Results on Apr 28, 2026 Rocky Brands, Inc. announced that they will report Q1, 2026 results After-Market on Apr 28, 2026 Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to US$45.32, the stock trades at a trailing P/E ratio of 15.2x. Average forward P/E is 15x in the Luxury industry in the US. Total returns to shareholders of 88% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$40.18 per share. New Risk • Feb 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 4.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Earnings have declined by 8.7% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (4.7% average weekly change). Significant insider selling over the past 3 months (US$0 sold). Buy Or Sell Opportunity • Feb 25
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 50% to US$46.00. The fair value is estimated to be US$37.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.6% over the last 3 years. Earnings per share has grown by 14%. Announcement • Feb 25
Rocky Brands, Inc. (NasdaqGS:RCKY) announces an Equity Buyback for $7.5 million worth of its shares. Rocky Brands, Inc. (NasdaqGS:RCKY) announces a share repurchase program. Under the program, the company will repurchase up to $7.5 million worth of its common stock. The plan will be valid until February 23, 2027. Declared Dividend • Feb 20
Third quarter dividend of US$0.15 announced Dividend of US$0.15 is the same as last year. Ex-date: 2nd March 2026 Payment date: 16th March 2026 Dividend yield will be 1.8%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 4.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Dec 03
Independent Director recently sold US$116k worth of stock On the 26th of November, Robyn Hahn sold around 4k shares on-market at roughly US$30.56 per share. This transaction amounted to 46% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$303k. Insiders have been net sellers, collectively disposing of US$891k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Nov 28
Independent Director notifies of intention to sell stock Robyn Hahn intends to sell 4k shares in the next 90 days after lodging an Intent To Sell Form on the 26th of November. If the sale is conducted around the recent share price of US$30.63, it would amount to US$116k. Since March 2025, Robyn's direct individual holding has increased from 8.24k shares to 8.29k. Company insiders have collectively sold US$531k more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Nov 20
Third quarter dividend of US$0.15 announced Dividend of US$0.15 is the same as last year. Ex-date: 1st December 2025 Payment date: 15th December 2025 Dividend yield will be 2.1%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 4.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 18
Rocky Brands Declares Quarterly Cash Dividend, Payable on December 15, 2025 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on December 15, 2025, to all shareholders of record as of the close of business on December 1, 2025. New Risk • Nov 09
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Earnings have declined by 9.9% per year over the past 5 years. Minor Risk Significant insider selling over the past 3 months (US$807k sold). Recent Insider Transactions • Nov 07
Board Member recently sold US$303k worth of stock On the 6th of November, Curtis Loveland sold around 10k shares on-market at roughly US$31.66 per share. This transaction amounted to 9.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$762k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Oct 31
Board Member notifies of intention to sell stock Curtis Loveland intends to sell 15k shares in the next 90 days after lodging an Intent To Sell Form on the 30th of October. If the sale is conducted around the recent share price of US$28.58, it would amount to US$416k. Since March 2025, Curtis' direct individual holding has increased from 102.46k shares to 105.01k. Company insiders have collectively sold US$186k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: US$0.96 (vs US$0.71 in 3Q 2024) Third quarter 2025 results: EPS: US$0.96 (up from US$0.71 in 3Q 2024). Revenue: US$122.5m (up 7.0% from 3Q 2024). Net income: US$7.21m (up 37% from 3Q 2024). Profit margin: 5.9% (up from 4.6% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Luxury industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Oct 29
Rocky Brands, Inc. Reaffirms Earnings Guidance for the Year 2025 Rocky Brands, Inc. announced that based on the third quarter performance and current view of the remainder of the year 2025, the company is reiterating its prior guidance for 2025. The company still expect revenue to increase between 4% to 5% compared to 2024 levels with full year gross margins down approximately 70 basis points to between 38% and 39%, consistent with its previous outlook. Finally, the company still expect 2025 EPS to increase approximately 10% over last year's $2.54. Announcement • Oct 22
Rocky Brands, Inc. to Report Q3, 2025 Results on Oct 28, 2025 Rocky Brands, Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Oct 28, 2025 Recent Insider Transactions • Sep 08
Independent Director recently sold US$150k worth of stock On the 2nd of September, Tracie Winbigler sold around 5k shares on-market at roughly US$29.95 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$155k. Insiders have been net sellers, collectively disposing of US$449k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Aug 31
Independent Director notifies of intention to sell stock William Jordan intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 29th of August. If the sale is conducted around the recent share price of US$30.13, it would amount to US$151k. Since December 2024, William's direct individual holding has increased from 15.94k shares to 18.68k. Company insiders have collectively sold US$225k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Aug 29
Lead Independent Director recently sold US$155k worth of stock On the 26th of August, G. Haning sold around 5k shares on-market at roughly US$31.00 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$225k more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$30.68, the stock trades at a trailing P/E ratio of 12.3x. Average forward P/E is 18x in the Luxury industry in the US. Total returns to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$34.03 per share. Declared Dividend • Aug 21
Second quarter dividend of US$0.15 announced Dividend of US$0.15 is the same as last year. Ex-date: 2nd September 2025 Payment date: 16th September 2025 Dividend yield will be 2.3%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 5.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 19
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on September 16, 2025 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on September 16, 2025, to all shareholders of record as of the close of business on September 2, 2025. Buy Or Sell Opportunity • Aug 11
Now 22% undervalued Over the last 90 days, the stock has risen 23% to US$25.81. The fair value is estimated to be US$32.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 15%. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$27.02, the stock trades at a trailing P/E ratio of 10.8x. Average forward P/E is 15x in the Luxury industry in the US. Total returns to shareholders of 10% over the past three years. Recent Insider Transactions Derivative • Aug 03
Lead Independent Director notifies of intention to sell stock G. Haning intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 1st of August. If the sale is conducted around the recent share price of US$25.15, it would amount to US$126k. Since December 2024, Haning's direct individual holding has increased from 21.74k shares to 24.48k. Company insiders have collectively sold US$70k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Jul 30
Second quarter 2025 earnings released: EPS: US$0.48 (vs US$0.17 loss in 2Q 2024) Second quarter 2025 results: EPS: US$0.48 (up from US$0.17 loss in 2Q 2024). Revenue: US$105.6m (up 7.5% from 2Q 2024). Net income: US$3.61m (up US$4.85m from 2Q 2024). Profit margin: 3.4% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Luxury industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Jul 23
Rocky Brands, Inc. to Report Q2, 2025 Results on Jul 29, 2025 Rocky Brands, Inc. announced that they will report Q2, 2025 results After-Market on Jul 29, 2025 Declared Dividend • May 22
First quarter dividend of US$0.15 announced Dividend of US$0.15 is the same as last year. Ex-date: 2nd June 2025 Payment date: 16th June 2025 Dividend yield will be 2.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 63% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.0% EPS decline seen over the last 5 years. Announcement • May 20
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on June 16, 2025 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on June 16, 2025 to all shareholders of record as of the close of business on June 2, 2025. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to US$18.78, the stock trades at a trailing P/E ratio of 10.2x. Average forward P/E is 14x in the Luxury industry in the US. Total loss to shareholders of 44% over the past three years. New Risk • May 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Share price has been highly volatile over the past 3 months (8.6% average weekly change). Earnings have declined by 10% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Apr 30
First quarter 2025 earnings released: EPS: US$0.66 (vs US$0.34 in 1Q 2024) First quarter 2025 results: EPS: US$0.66 (up from US$0.34 in 1Q 2024). Revenue: US$114.1m (up 1.0% from 1Q 2024). Net income: US$4.94m (up 94% from 1Q 2024). Profit margin: 4.3% (up from 2.3% in 1Q 2024). Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Luxury industry in the US. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Apr 30
Rocky Brands, Inc., Annual General Meeting, Jun 03, 2025 Rocky Brands, Inc., Annual General Meeting, Jun 03, 2025. Location: ohio university inn &conference center, located at 331 richland avenue, ohio, 45701., athens United States Announcement • Apr 23
Rocky Brands, Inc. to Report Q1, 2025 Results on Apr 29, 2025 Rocky Brands, Inc. announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on Apr 29, 2025 New Risk • Apr 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$99.9m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings have declined by 9.3% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (US$99.9m market cap). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$14.71, the stock trades at a trailing P/E ratio of 9.6x. Average forward P/E is 12x in the Luxury industry in the US. Total loss to shareholders of 60% over the past three years. Price Target Changed • Apr 04
Price target decreased by 36% to US$16.00 Down from US$25.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of US$15.82. Stock is down 41% over the past year. The company posted earnings per share of US$1.53 last year. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to US$18.42, the stock trades at a trailing P/E ratio of 12.1x. Average forward P/E is 15x in the Luxury industry in the US. Total loss to shareholders of 56% over the past three years. Announcement • Feb 28
Rocky Brands, Inc. Reports Impairment of Trademark for the Three Months Ended December 31, 2024 Rocky Brands, Inc. reported impairment of trademark for the three months ended December 31, 2024. For the three months, the company reported impairment of trademarks Of $4,000,000. Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: US$1.53 (vs US$1.42 in FY 2023) Full year 2024 results: EPS: US$1.53 (up from US$1.42 in FY 2023). Revenue: US$453.8m (down 1.7% from FY 2023). Net income: US$11.4m (up 9.2% from FY 2023). Profit margin: 2.5% (up from 2.3% in FY 2023). Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Luxury industry in the US. Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 24% per year. Announcement • Feb 26
Rocky Brands, Inc. (NasdaqGS:RCKY) announces an Equity Buyback for $7.5 million worth of its shares. Rocky Brands, Inc. (NasdaqGS:RCKY) announces a share repurchase program. Under the program, the company will repurchase up to $7.5 million worth of its common stock. The plan will be valid for 12 months. Declared Dividend • Feb 21
Third quarter dividend of US$0.15 announced Dividend of US$0.15 is the same as last year. Ex-date: 3rd March 2025 Payment date: 17th March 2025 Dividend yield will be 2.7%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 62% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.8% EPS decline seen over the last 5 years. Announcement • Feb 20
Rocky Brands, Inc. to Report Q4, 2024 Results on Feb 25, 2025 Rocky Brands, Inc. announced that they will report Q4, 2024 results After-Market on Feb 25, 2025 Announcement • Feb 19
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on March 17, 2025 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on March 17, 2025 to all shareholders of record as of the close of business on March 3, 2025. Recent Insider Transactions • Nov 26
Independent Director recently sold US$104k worth of stock On the 21st of November, Robert Moore sold around 5k shares on-market at roughly US$20.75 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$603k more than they bought in the last 12 months. Declared Dividend • Nov 21
Third quarter dividend of US$0.15 announced Dividend of US$0.15 is the same as last year. Ex-date: 3rd December 2024 Payment date: 17th December 2024 Dividend yield will be 3.0%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 62% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.8% EPS decline seen over the last 5 years. Announcement • Nov 19
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on December 17, 2024 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on December 17, 2024 to all shareholders of record as of the close of business on December 3, 2024. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to US$20.69, the stock trades at a trailing P/E ratio of 11.6x. Average forward P/E is 15x in the Luxury industry in the US. Total loss to shareholders of 49% over the past three years. Price Target Changed • Nov 01
Price target decreased by 22% to US$25.00 Down from US$32.00, the current price target is provided by 1 analyst. New target price is 22% above last closing price of US$20.47. Stock is down 1.0% over the past year. The company posted earnings per share of US$1.42 last year. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.71 (vs US$0.93 in 3Q 2023) Third quarter 2024 results: EPS: US$0.71 (down from US$0.93 in 3Q 2023). Revenue: US$114.6m (down 8.8% from 3Q 2023). Net income: US$5.28m (down 23% from 3Q 2023). Profit margin: 4.6% (down from 5.4% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Luxury industry in the US. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 21% per year. Announcement • Oct 24
Rocky Brands, Inc. to Report Q3, 2024 Results on Oct 30, 2024 Rocky Brands, Inc. announced that they will report Q3, 2024 results After-Market on Oct 30, 2024 Declared Dividend • Aug 22
Second quarter dividend of US$0.15 announced Dividend of US$0.15 is the same as last year. Ex-date: 3rd September 2024 Payment date: 17th September 2024 Dividend yield will be 2.1%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Announcement • Aug 20
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on September 17, 2024 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on September 17, 2024 to all shareholders of record as of the close of business on September 3, 2024. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to US$27.50, the stock trades at a trailing P/E ratio of 13.7x. Average forward P/E is 14x in the Luxury industry in the US. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$11.86 per share. Recent Insider Transactions Derivative • Aug 04
Lead Independent Director notifies of intention to sell stock G. Haning intends to sell 4k shares in the next 90 days after lodging an Intent To Sell Form on the 1st of August. If the sale is conducted around the recent share price of US$34.28, it would amount to US$137k. Since December 2023, Haning's direct individual holding has decreased from 24.43k shares to 21.17k. Company insiders have collectively sold US$679k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Jul 31
Second quarter 2024 earnings released: US$0.17 loss per share (vs US$0.37 loss in 2Q 2023) Second quarter 2024 results: US$0.17 loss per share (improved from US$0.37 loss in 2Q 2023). Revenue: US$98.3m (down 1.6% from 2Q 2023). Net loss: US$1.24m (loss narrowed 54% from 2Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Luxury industry in the US. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Jul 24
Rocky Brands, Inc. to Report Q2, 2024 Results on Jul 30, 2024 Rocky Brands, Inc. announced that they will report Q2, 2024 results After-Market on Jul 30, 2024 Recent Insider Transactions Derivative • Jun 09
Independent Director notifies of intention to sell stock Robert Moore intends to sell 9k shares in the next 90 days after lodging an Intent To Sell Form on the 5th of June. If the sale is conducted around the recent share price of US$38.90, it would amount to US$350k. Since September 2023, Robert's direct individual holding has increased from 27.53k shares to 29.52k. Company insiders have collectively sold US$557k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • May 26
Lead Independent Director notifies of intention to sell stock G. Haning intends to sell 9k shares in the next 90 days after lodging an Intent To Sell Form on the 23rd of May. If the sale is conducted around the recent share price of US$35.70, it would amount to US$321k. Since September 2023, Haning's direct individual holding has decreased from 23.20k shares to 20.69k. Company insiders have collectively sold US$557k more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • May 24
First quarter dividend of US$0.15 announced Dividend of US$0.15 is the same as last year. Ex-date: 3rd June 2024 Payment date: 17th June 2024 Dividend yield will be 1.7%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 62% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.2% EPS decline seen over the last 5 years. Announcement • May 22
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on June 17, 2024 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on June 17, 2024 to all shareholders of record as of the close of business on June 3, 2024. Recent Insider Transactions Derivative • May 08
Board Member notifies of intention to sell stock Curtis Loveland intends to sell 11k shares in the next 90 days after lodging an Intent To Sell Form on the 6th of May. If the sale is conducted around the recent share price of US$35.64, it would amount to US$392k. Since September 2023, Curtis' direct individual holding has increased from 107.82k shares to 110.30k. Company insiders have collectively sold US$150k more than they bought, via options and on-market transactions in the last 12 months. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to US$34.39, the stock trades at a trailing P/E ratio of 19.1x. Average forward P/E is 15x in the Luxury industry in the US. Total loss to shareholders of 39% over the past three years. Recent Insider Transactions • May 05
Lead Independent Director recently sold US$164k worth of stock On the 2nd of May, G. Haning sold around 5k shares on-market at roughly US$32.78 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$64k more than they bought in the last 12 months.