Weyco Group (NASDAQ:WEYS) Upgraded 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 report released on Saturday.

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

Weyco Group Trading Up 1.2%

Weyco Group stock opened at $45.79 on Friday. The firm has a market cap of $437.29 million, a price-to-earnings ratio of 12.61 and a beta of 0.88. The stock has a fifty day simple moving average of $39.63 and a two-hundred day simple moving average of $35.46. Weyco Group has a 12 month low of $27.25 and a 12 month high of $48.67.

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

Weyco Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.28 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.12 dividend on an annualized basis and a yield of 2.4%. Weyco Group’s dividend payout ratio (DPR) is presently 30.85%.

Insider Activity

In other Weyco Group news, VP Allison Woss sold 2,511 shares of Weyco Group stock in a transaction that occurred 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 transaction, the vice president owned 8,663 shares of the company’s stock, valued at $377,966.69. The trade was a 22.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Judy Anderson sold 2,602 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $43.27, for a total transaction of $112,588.54. Following the completion of the transaction, the chief financial officer owned 14,418 shares of the company’s stock, valued at approximately $623,866.86. The trade was a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,737 shares of company stock worth $374,746 over the last ninety days. Company insiders own 36.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WEYS. BlackRock Inc. purchased a new stake in Weyco Group in the 2nd quarter worth $18,215,000. Deutsche Bank AG bought a new position in shares of Weyco Group in the second quarter worth about $235,000. Bank of New York Mellon Corp bought a new position in shares of Weyco Group in the second quarter worth about $2,952,000. Empowered Funds LLC grew its position in shares of Weyco Group by 3.4% during the first quarter. Empowered Funds LLC now owns 53,793 shares of the textile maker’s stock worth $1,724,000 after purchasing an additional 1,787 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Weyco Group by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 588,781 shares of the textile maker’s stock worth $18,871,000 after purchasing an additional 5,294 shares during the period. Institutional investors 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.