Weyco Group (NASDAQ:WEYS) Downgraded to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Weyco Group (NASDAQ:WEYS) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

Weyco Group Price Performance

WEYS stock traded up $0.32 on Thursday, reaching $38.82. 7,023 shares of the company were exchanged, compared to its average volume of 11,135. Weyco Group has a 12 month low of $24.47 and a 12 month high of $41.05. The stock’s fifty day moving average price is $33.84 and its 200 day moving average price is $31.86. The firm has a market capitalization of $368.40 million, a PE ratio of 12.75 and a beta of 0.71.

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

Weyco Group Increases Dividend

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

Insiders Place Their Bets

In other Weyco Group news, insider Damian Walton sold 1,340 shares of Weyco Group stock in a transaction on Monday, September 9th. The shares were sold at an average price of $32.50, for a total transaction of $43,550.00. Following the sale, the insider now owns 7,030 shares in the company, valued at $228,475. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 3,078 shares of company stock worth $102,351 over the last 90 days. Corporate insiders own 38.90% of the company’s stock.

Institutional Investors Weigh In On Weyco Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in shares of Weyco Group by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 36,042 shares of the textile maker’s stock valued at $1,227,000 after purchasing an additional 1,742 shares in the last quarter. First Business Financial Services Inc. boosted its stake in shares of Weyco Group by 8.3% in the 3rd quarter. First Business Financial Services Inc. now owns 13,096 shares of the textile maker’s stock valued at $446,000 after purchasing an additional 1,000 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Weyco Group by 3.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 23,432 shares of the textile maker’s stock valued at $798,000 after purchasing an additional 757 shares in the last quarter. Annex Advisory Services LLC boosted its stake in shares of Weyco Group by 31.8% in the 3rd quarter. Annex Advisory Services LLC now owns 25,183 shares of the textile maker’s stock valued at $857,000 after purchasing an additional 6,069 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of Weyco Group by 23.4% in the 3rd quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock valued at $340,000 after purchasing an additional 1,893 shares in the last quarter. Institutional investors and hedge funds own 23.59% of the company’s stock.

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.