Weyco Group (NASDAQ:WEYS) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Weyco Group (NASDAQ:WEYS) from a hold rating to a buy rating in a report published on Saturday.

Separately, Weiss Ratings downgraded Weyco Group from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Weyco Group Stock Performance

Shares of WEYS opened at $34.82 on Friday. Weyco Group has a 52 week low of $27.25 and a 52 week high of $35.18. The stock has a market capitalization of $331.83 million, a price-to-earnings ratio of 14.04 and a beta of 0.89. The stock has a fifty day moving average of $33.33 and a 200-day moving average of $31.96.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings results on Tuesday, May 5th. The textile maker reported $0.64 EPS for the quarter. Weyco Group had a return on equity of 9.63% and a net margin of 8.57%.The company had revenue of $68.01 million during the quarter.

Weyco Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, May 19th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $1.12 dividend on an annualized basis and a yield of 3.2%. This is a boost from Weyco Group’s previous quarterly dividend of $0.27. Weyco Group’s payout ratio is currently 43.55%.

Institutional Trading of Weyco Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co acquired a new stake in Weyco Group during the 4th quarter valued at approximately $30,000. BNP Paribas Financial Markets boosted its holdings in shares of Weyco Group by 107.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock worth $48,000 after buying an additional 832 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings 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 worth $59,000 after buying an additional 1,133 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Weyco Group during the 4th quarter worth approximately $55,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Weyco Group during the 4th quarter worth approximately $72,000. Institutional investors and hedge funds own 23.59% of the company’s stock.

About Weyco Group

Weyco Group, Inc is a publicly traded footwear company (NASDAQ: WEYS) based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men’s dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.