Bank of New York Mellon Corp raised its position in shares of Weyco Group Inc. (NASDAQ:WEYS) by 4.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,740 shares of the company’s stock after buying an additional 3,024 shares during the period. Bank of New York Mellon Corp owned about 0.73% of Weyco Group worth $2,160,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Weyco Group by 1.4% in the first quarter. Geode Capital Management LLC now owns 39,308 shares of the company’s stock worth $1,046,000 after buying an additional 548 shares during the period. Renaissance Technologies LLC boosted its position in shares of Weyco Group by 4.3% in the first quarter. Renaissance Technologies LLC now owns 31,500 shares of the company’s stock worth $839,000 after buying an additional 1,300 shares during the period. Bank of Montreal Can acquired a new position in shares of Weyco Group during the second quarter worth $316,000. Finally, Metropolitan Life Insurance Co. NY acquired a new position in shares of Weyco Group during the first quarter worth $140,000. Hedge funds and other institutional investors own 32.00% of the company’s stock.
Weyco Group Inc. (NASDAQ:WEYS) traded down 0.04% on Thursday, reaching $26.59. 3,131 shares of the company’s stock traded hands. The firm has a market capitalization of $280.23 million, a P/E ratio of 17.52 and a beta of 0.54. Weyco Group Inc. has a 52 week low of $22.94 and a 52 week high of $29.18. The stock has a 50-day moving average of $26.22 and a 200 day moving average of $27.00.
Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.07. The company had revenue of $56.90 million for the quarter, compared to analysts’ expectations of $63.98 million. Weyco Group had a return on equity of 8.16% and a net margin of 5.16%. On average, equities analysts expect that Weyco Group Inc. will post $1.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, August 29th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, August 25th. This represents a $0.84 annualized dividend and a dividend yield of 3.16%. Weyco Group’s payout ratio is currently 56.00%.
Several research analysts have commented on WEYS shares. Zacks Investment Research upgraded shares of Weyco Group from a “sell” rating to a “hold” rating in a report on Thursday, June 9th. B. Riley cut shares of Weyco Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $31.00 to $30.00 in a report on Monday, August 1st. Finally, TheStreet cut shares of Weyco Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd.
About Weyco Group
Weyco Group, Inc is engaged in the design and distribution of footwear. The Company designs and markets footwear for men, women and children. The Company operates through two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). The Company also has other wholesale and retail businesses overseas, which include its businesses in Australia, South Africa and Asia Pacific (collectively known as Florsheim Australia), and its wholesale and retail businesses in Europe.
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