StockNews.com Begins Coverage on Weyco Group (NASDAQ:WEYS)

StockNews.com assumed coverage on shares of Weyco Group (NASDAQ:WEYS – Get Rating) in a research report released on Thursday morning. The firm issued a buy rating on the textile maker’s stock.

Weyco Group Stock Up 2.6 %

WEYS stock opened at $23.26 on Thursday. Weyco Group has a 52-week low of $19.89 and a 52-week high of $32.45. The stock’s fifty day simple moving average is $25.68 and its 200-day simple moving average is $24.38. The stock has a market capitalization of $223.76 million, a price-to-earnings ratio of 7.58 and a beta of 0.88.

Weyco Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Thursday, March 16th. Weyco Group’s dividend payout ratio (DPR) is 31.27%.

Institutional Investors Weigh In On Weyco Group

Several hedge funds have recently made changes to their positions in WEYS. FNY Investment Advisers LLC acquired a new stake in shares of Weyco Group during the fourth quarter worth $33,000. Barclays PLC boosted its holdings in Weyco Group by 533.6% in the fourth quarter. Barclays PLC now owns 1,584 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 1,334 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in Weyco Group in the second quarter valued at $35,000. Lazard Asset Management LLC acquired a new position in Weyco Group in the second quarter valued at $55,000. Finally, BNP Paribas Arbitrage SNC boosted its holdings in Weyco Group by 95.8% in the third quarter. BNP Paribas Arbitrage SNC now owns 2,830 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 1,385 shares during the last quarter. Institutional investors and hedge funds own 22.63% of the company’s stock.

About Weyco Group

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Weyco Group, Inc engages in the design, production and trade of footwear for men, women and children. It operates through the following segments: North American Wholesale Operations and North American Retail Operations. The North American Wholesale Operations segment includes selling products to department stores and specialty shops in the United States and Canada.