Weyco Group (NASDAQ:WEYS) Issues Earnings Results

Weyco Group (NASDAQ:WEYS) released its earnings results on Tuesday. The textile maker reported $0.69 earnings per share for the quarter, Zacks reports. The firm had revenue of $73.12 million during the quarter. Weyco Group had a return on equity of 10.34% and a net margin of 9.20%.

Weyco Group Stock Performance

Shares of NASDAQ:WEYS opened at $31.35 on Thursday. Weyco Group has a one year low of $25.51 and a one year high of $41.05. The stock has a fifty day moving average of $29.72 and a 200-day moving average of $30.70. The company has a market capitalization of $299.05 million, a PE ratio of 11.65 and a beta of 0.97.

Weyco Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Monday, November 17th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, November 17th. Weyco Group’s dividend payout ratio is 42.52%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Weyco Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its position in shares of 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 valued at $59,000 after acquiring an additional 1,133 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Weyco Group by 4.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 95,961 shares of the textile maker’s stock valued at $3,182,000 after acquiring an additional 4,186 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Weyco Group during the 2nd quarter valued at $204,000. Rhumbline Advisers lifted its position in shares of Weyco Group by 21.1% during the 2nd quarter. Rhumbline Advisers now owns 10,989 shares of the textile maker’s stock valued at $364,000 after acquiring an additional 1,917 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Weyco Group by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 160,193 shares of the textile maker’s stock valued at $5,313,000 after acquiring an additional 2,224 shares during the last quarter. Institutional investors and hedge funds own 23.59% of the company’s stock.

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.