Weyco Group (NASDAQ:WEYS) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Weyco Group (NASDAQ:WEYS) from a strong-buy rating to a buy rating in a research note released on Thursday.

Weyco Group Stock Performance

NASDAQ WEYS opened at $38.47 on Thursday. The stock has a 50 day moving average price of $33.94 and a 200-day moving average price of $31.95. Weyco Group has a one year low of $24.47 and a one year high of $41.05. The company has a market capitalization of $365.12 million, a P/E ratio of 12.74 and a beta of 0.71.

Weyco Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, November 18th will be paid a $2.26 dividend. This is a boost from Weyco Group’s previous quarterly dividend of $0.26. This represents a $9.04 dividend on an annualized basis and a dividend yield of 23.50%. The ex-dividend date of this dividend is Monday, November 18th. Weyco Group’s dividend payout ratio (DPR) is presently 34.44%.

Insider Transactions at Weyco Group

In related news, insider Damian Walton sold 1,340 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $32.50, for a total value of $43,550.00. Following the completion of the transaction, the insider now owns 7,030 shares of the company’s stock, valued at approximately $228,475. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,078 shares of company stock worth $102,351 in the last three months. Insiders own 38.90% of the company’s stock.

Institutional Investors Weigh In On Weyco Group

Several institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its holdings in Weyco Group by 9.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,932 shares of the textile maker’s stock valued at $699,000 after buying an additional 1,810 shares during the period. O Shaughnessy Asset Management LLC increased its position in Weyco Group by 5.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 22,352 shares of the textile maker’s stock valued at $713,000 after acquiring an additional 1,212 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Weyco Group by 83.6% in the first quarter. BNP Paribas Financial Markets now owns 3,198 shares of the textile maker’s stock valued at $102,000 after acquiring an additional 1,456 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Weyco Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 339,323 shares of the textile maker’s stock worth $10,818,000 after acquiring an additional 2,799 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of Weyco Group by 23.4% during the 3rd quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock worth $340,000 after purchasing an additional 1,893 shares during the period. 23.59% of the stock is owned by institutional investors.

About Weyco Group

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.