Weyco Group (NASDAQ:WEYS) Upgraded by StockNews.com to Strong-Buy Rating

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

Weyco Group Stock Performance

NASDAQ:WEYS traded up $1.07 during trading hours on Friday, reaching $38.89. The company’s stock had a trading volume of 31,578 shares, compared to its average volume of 15,597. The firm has a 50-day simple moving average of $34.45 and a 200-day simple moving average of $32.24. Weyco Group has a 1 year low of $27.05 and a 1 year high of $41.05. The firm has a market capitalization of $369.07 million, a price-to-earnings ratio of 12.88 and a beta of 0.71.

Weyco Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, November 18th will be issued a dividend of $2.26 per share. This is a positive change from Weyco Group’s previous quarterly dividend of $0.26. This represents a $9.04 dividend on an annualized basis and a yield of 23.25%. The ex-dividend date of this dividend is Monday, November 18th. Weyco Group’s dividend payout ratio is currently 34.44%.

Insider Transactions at Weyco Group

In related news, CFO Judy Anderson sold 2,893 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.98, for a total value of $109,876.14. Following the completion of the transaction, the chief financial officer now directly owns 13,100 shares of the company’s stock, valued at $497,538. This represents a 18.09 % 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. Also, VP Allison Woss sold 1,463 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $37.81, for a total transaction of $55,316.03. Following the completion of the sale, the vice president now owns 7,623 shares of the company’s stock, valued at $288,225.63. This trade represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,402 shares of company stock worth $304,656. Company insiders own 38.90% of the company’s stock.

Institutional Investors Weigh In On Weyco Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its position in shares of Weyco Group by 9.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,932 shares of the textile maker’s stock worth $699,000 after purchasing an additional 1,810 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Weyco Group by 5.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 22,352 shares of the textile maker’s stock worth $713,000 after purchasing an additional 1,212 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Weyco Group by 83.6% during the 1st quarter. BNP Paribas Financial Markets now owns 3,198 shares of the textile maker’s stock valued at $102,000 after buying an additional 1,456 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Weyco Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 339,323 shares of the textile maker’s stock worth $10,818,000 after buying an additional 2,799 shares during the period. Finally, Ritholtz Wealth Management increased its stake in Weyco Group by 23.4% in the 3rd quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock worth $340,000 after buying an additional 1,893 shares in the last quarter. Hedge funds and other institutional investors 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.