Weyco Group (NASDAQ:WEYS) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Shares of Weyco Group, Inc. (NASDAQ:WEYS) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $30.70 and traded as low as $29.35. Weyco Group shares last traded at $29.35, with a volume of 9,446 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Weyco Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Weyco Group currently has a consensus rating of “Hold”.

Weyco Group Stock Down 1.7%

The stock has a market capitalization of $280.00 million, a P/E ratio of 10.91 and a beta of 0.98. The firm has a 50-day moving average of $29.83 and a 200 day moving average of $30.70.

Weyco Group (NASDAQ:WEYS) last issued its quarterly earnings data on Tuesday, August 5th. The textile maker reported $0.24 earnings per share (EPS) for the quarter. Weyco Group had a return on equity of 10.34% and a net margin of 9.20%.The company had revenue of $58.22 million during the quarter.

Weyco Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, August 18th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, August 18th. Weyco Group’s payout ratio is currently 40.15%.

Hedge Funds Weigh In On Weyco Group

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its position in Weyco Group by 172.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker’s stock worth $59,000 after acquiring an additional 1,133 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Weyco Group in the second quarter valued at about $204,000. IFG Advisory LLC bought a new position in Weyco Group in the second quarter valued at about $219,000. Voya Investment Management LLC bought a new position in Weyco Group in the first quarter valued at about $201,000. Finally, Nuveen LLC bought a new position in shares of Weyco Group during the first quarter worth about $277,000. 23.59% of the stock is currently owned by institutional investors and hedge funds.

Weyco Group Company Profile

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.