Weyco Group (NASDAQ:WEYS) Reaches New 52-Week High – Time to Buy?

Weyco Group, Inc. (NASDAQ:WEYS)’s share price hit a new 52-week high during trading on Monday. The company traded as high as $54.02 and last traded at $53.77, with a volume of 3,261 shares changing hands. The stock had previously closed at $52.46.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Weyco Group from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Wall Street Zen upgraded Weyco Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Weyco Group Stock Up 3.0%

The stock has a market cap of $516.04 million, a price-to-earnings ratio of 14.88 and a beta of 0.89. The firm’s 50 day moving average is $48.08 and its two-hundred day moving average is $38.55.

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

Weyco Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, August 18th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 18th. Weyco Group’s dividend payout ratio is 30.85%.

Insider Buying and Selling at Weyco Group

In other Weyco Group news, insider Damian Walton sold 1,100 shares of Weyco Group stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $43.00, for a total transaction of $47,300.00. Following the sale, the insider directly owned 6,580 shares of the company’s stock, valued at approximately $282,940. The trade was a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tina M. Chang sold 3,000 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $45.07, for a total value of $135,210.00. Following the sale, the director owned 17,833 shares in the company, valued at $803,733.31. The trade was a 14.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 13,953 shares of company stock valued at $616,534 in the last quarter. Corporate insiders own 36.40% of the company’s stock.

Institutional Investors Weigh In On Weyco Group

A number of hedge funds and other institutional investors have recently made changes to their positions in WEYS. Signaturefd LLC acquired a new stake in shares of Weyco Group in the third quarter valued at approximately $49,000. Deutsche Bank AG acquired a new stake in shares of Weyco Group in the 2nd quarter valued at $235,000. Associated Banc Corp bought a new position in shares of Weyco Group in the 3rd quarter valued at $2,164,000. Empowered Funds LLC acquired a new position in shares of Weyco Group during the 2nd quarter worth $2,116,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Weyco Group during the 2nd quarter worth $2,952,000. 23.59% of the stock is currently owned by institutional investors and hedge funds.

About Weyco Group

Weyco Group, Inc is a footwear company that designs, sources, markets and distributes branded men’s shoes and accessories. Its portfolio includes Florsheim, Nunn Bush, Stacy Adams, BOGS and Forsake, serving dress, casual, outdoor and work-oriented footwear markets.

The company sells its products through department stores, specialty footwear retailers, independent retailers, e-commerce platforms and its own branded websites. Its business is organized around wholesale and direct-to-consumer channels, with products distributed primarily in North America and also in select international markets, including Europe and Australia.

Weyco traces its history to 1892 and is headquartered in Milwaukee, Wisconsin.