Weyco Group (NASDAQ:WEYS) Sets New 1-Year High – Here’s What Happened

Weyco Group, Inc. (NASDAQ:WEYS)’s share price reached a new 52-week high during trading on Wednesday. The stock traded as high as $53.23 and last traded at $52.73, with a volume of 19,052 shares traded. The stock had previously closed at $52.43.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WEYS shares. Wall Street Zen raised shares of Weyco Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Weyco Group from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 21st. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat, Weyco Group currently has an average rating of “Buy”.

Weyco Group Stock Up 0.6%

The business’s 50-day simple moving average is $46.50 and its two-hundred day simple moving average is $39.67. The firm has a market cap of $503.57 million, a price-to-earnings ratio of 14.44 and a beta of 0.89.

Weyco Group (NASDAQ:WEYS) last posted its earnings results on Tuesday, August 4th. The textile maker reported $1.39 earnings per share (EPS) for the quarter. Weyco Group had a net margin of 12.39% and a return on equity of 14.04%. The business had revenue of $62.22 million for the quarter.

Weyco Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, August 18th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, August 18th. Weyco Group’s payout ratio is currently 30.85%.

Insider Buying and Selling

In other Weyco Group news, Director Tina Chang sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $45.07, for a total transaction of $135,210.00. Following the transaction, the director owned 17,833 shares in the company, valued at approximately $803,733.31. This represents a 14.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Kevin Schiff sold 1,191 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $45.32, for a total value of $53,976.12. Following the transaction, the vice president owned 27,733 shares in the company, valued at $1,256,859.56. This represents a 4.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,953 shares of company stock worth $616,534 in the last ninety days. 36.40% of the stock is owned by corporate insiders.

Institutional Trading of Weyco Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Weyco Group during the second quarter worth about $18,215,000. Bank of New York Mellon Corp purchased a new stake in Weyco Group during the 2nd quarter valued at about $2,952,000. Empowered Funds LLC purchased a new stake in Weyco Group during the 2nd quarter valued at about $2,116,000. Deutsche Bank AG acquired a new stake in Weyco Group in the 2nd quarter valued at about $235,000. Finally, Dimensional Fund Advisors LP raised its holdings in Weyco Group by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 588,781 shares of the textile maker’s stock valued at $18,871,000 after acquiring an additional 5,294 shares during the last quarter. 23.59% of the stock is currently owned by hedge funds and other institutional investors.

About Weyco Group

Weyco Group, Inc is a footwear company that designs, sources, markets and distributes branded shoes for men, women and children. Its portfolio includes dress, casual, work, outdoor and comfort footwear sold through wholesale and direct-to-consumer channels.

The company’s principal brands include Florsheim, Nunn Bush, Stacy Adams, BOGS and Forsake. Products are distributed through department stores, specialty footwear retailers, independent stores, e-commerce platforms and the company’s own websites and retail operations.

Weyco Group traces its roots to 1896 and is headquartered in Milwaukee, Wisconsin.