Weyco Group (NASDAQ:WEYS) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Weyco Group (NASDAQ:WEYS) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Weyco Group in a report on Friday, August 7th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Weyco Group presently has an average rating of “Hold”.

Weyco Group Stock Down 1.2%

NASDAQ WEYS opened at $45.26 on Friday. The firm has a market cap of $431.33 million, a P/E ratio of 12.47 and a beta of 0.88. The company’s 50 day moving average is $39.41 and its 200-day moving average is $35.32. Weyco Group has a 12-month low of $27.25 and a 12-month high of $48.67.

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

Weyco Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Weyco Group’s payout ratio is presently 30.85%.

Insider Buying and Selling

In other Weyco Group news, CFO Judy Anderson sold 2,602 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $43.27, for a total value of $112,588.54. Following the sale, the chief financial officer directly owned 14,418 shares in the company, valued at $623,866.86. This represents a 15.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Allison Woss sold 2,511 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $43.63, for a total transaction of $109,554.93. Following the completion of the transaction, the vice president directly owned 8,663 shares of the company’s stock, valued at approximately $377,966.69. The trade was a 22.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 8,737 shares of company stock valued at $374,746. Corporate insiders own 36.40% of the company’s stock.

Institutional Investors Weigh In On Weyco Group

Institutional investors and hedge funds have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co purchased a new position in Weyco Group during the fourth quarter worth about $30,000. BNP Paribas Financial Markets raised its holdings in shares of Weyco Group by 107.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock valued at $48,000 after acquiring an additional 832 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Weyco Group by 172.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker’s stock valued at $59,000 after acquiring an additional 1,133 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Weyco Group during the 4th quarter valued at about $55,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Weyco Group during the 4th quarter valued at about $72,000. Hedge funds and other institutional investors own 23.59% of the company’s stock.

Weyco Group Company Profile

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.