StockNews.com Downgrades Weyco Group (NASDAQ:WEYS) to Buy

StockNews.com cut shares of Weyco Group (NASDAQ:WEYS) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

Weyco Group Stock Performance

NASDAQ:WEYS traded up $0.32 on Thursday, hitting $38.82. 7,023 shares of the stock were exchanged, compared to its average volume of 11,135. The stock has a market capitalization of $368.40 million, a price-to-earnings ratio of 12.75 and a beta of 0.71. Weyco Group has a 52 week low of $24.47 and a 52 week high of $41.05. The company’s 50-day moving average price is $33.84 and its 200 day moving average price is $31.86.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings results on Tuesday, August 6th. The textile maker reported $0.59 EPS for the quarter. The company had revenue of $63.93 million during the quarter. Weyco Group had a return on equity of 11.64% and a net margin of 9.94%.

Weyco Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, November 18th will be given a $2.26 dividend. The ex-dividend date is Monday, November 18th. This is a positive change from Weyco Group’s previous quarterly dividend of $0.26. This represents a $9.04 annualized dividend and a dividend yield of 23.29%. Weyco Group’s payout ratio is currently 34.44%.

Insider Activity at Weyco Group

In related news, insider Damian Walton sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $32.50, for a total value of $43,550.00. Following the completion of the transaction, the insider now directly owns 7,030 shares in the company, valued at approximately $228,475. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 3,078 shares of company stock worth $102,351. 38.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Weyco Group

Institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its position in Weyco Group by 9.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,932 shares of the textile maker’s stock worth $699,000 after acquiring an additional 1,810 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Weyco Group by 5.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,352 shares of the textile maker’s stock worth $713,000 after acquiring an additional 1,212 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Weyco Group by 83.6% during the 1st quarter. BNP Paribas Financial Markets now owns 3,198 shares of the textile maker’s stock worth $102,000 after acquiring an additional 1,456 shares during the last quarter. Vanguard Group Inc. boosted its position in Weyco Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 339,323 shares of the textile maker’s stock worth $10,818,000 after acquiring an additional 2,799 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in Weyco Group by 23.4% during the 3rd quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock worth $340,000 after acquiring an additional 1,893 shares during the last quarter. 23.59% of the stock is currently owned by institutional investors and hedge funds.

About Weyco Group

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.