Weyco Group (NASDAQ:WEYS) Sees Unusually-High Trading Volume After Dividend Announcement

Weyco Group, Inc. (NASDAQ:WEYS) shares saw unusually-high trading volume on Wednesday following a dividend announcement from the company. Approximately 69,201 shares were traded during trading, an increase of 238% from the average daily volume of 20,479 shares. The stock last traded at $59.35 and had previously closed at $52.28.

The newly announced dividend which will be paid on Friday, January 8th. Investors of record on Tuesday, November 17th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, November 17th. Weyco Group’s dividend payout ratio is presently 30.85%.

Wall Street Analyst Weigh In

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

Weyco Group Trading Up 13.5%

The business has a fifty day moving average of $48.41 and a 200 day moving average of $38.78. The company has a market capitalization of $566.79 million, a PE ratio of 16.35 and a beta of 0.91.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings data on Tuesday, November 3rd. The textile maker reported $1.19 earnings per share for the quarter. Weyco Group had a net margin of 12.39% and a return on equity of 14.04%. The firm had revenue of $77.02 million during the quarter.

Insiders Place Their Bets

In other Weyco Group news, insider Damian Walton sold 1,100 shares of Weyco Group stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $43.00, for a total transaction of $47,300.00. Following the completion of the sale, the insider directly owned 6,580 shares of the company’s stock, valued at $282,940. The trade was a 14.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin Schiff sold 1,191 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $45.32, for a total value of $53,976.12. Following the completion of the transaction, the vice president owned 27,733 shares in the company, valued at approximately $1,256,859.56. The trade was a 4.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 13,953 shares of company stock worth $616,534. Corporate insiders own 36.40% of the company’s stock.

Institutional Trading of Weyco Group

Several institutional investors have recently modified their holdings of WEYS. Signaturefd LLC purchased a new position in shares of Weyco Group during the third quarter worth about $49,000. Deutsche Bank AG acquired a new stake in shares of Weyco Group in the 2nd quarter valued at about $235,000. Associated Banc Corp purchased a new position in Weyco Group during the 3rd quarter worth approximately $2,164,000. Empowered Funds LLC purchased a new position in Weyco Group during the 2nd quarter worth approximately $2,116,000. Finally, Bank of New York Mellon Corp acquired a new position in Weyco Group during the second quarter worth approximately $2,952,000. Hedge funds and other institutional investors own 23.59% of the company’s stock.

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.