Weyco Group (NASDAQ:WEYS) Raised to Strong-Buy at StockNews.com

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

Weyco Group Stock Down 0.6 %

Shares of WEYS stock opened at $36.39 on Friday. The stock has a market cap of $347.89 million, a price-to-earnings ratio of 12.05 and a beta of 0.71. Weyco Group has a fifty-two week low of $27.05 and a fifty-two week high of $41.05. The firm’s 50 day moving average price is $34.45 and its two-hundred day moving average price is $32.29.

Weyco Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $2.26 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.04 dividend on an annualized basis and a dividend yield of 24.84%. This is a positive change from Weyco Group’s previous quarterly dividend of $0.26. Weyco Group’s dividend payout ratio (DPR) is currently 34.44%.

Insider Buying and Selling

In other Weyco Group news, CFO Judy Anderson sold 2,893 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $37.98, for a total transaction of $109,876.14. Following the completion of the sale, the chief financial officer now owns 13,100 shares in the company, valued at $497,538. The trade was a 18.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Allison Woss sold 1,463 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $37.81, for a total transaction of $55,316.03. Following the transaction, the vice president now directly owns 7,623 shares of the company’s stock, valued at approximately $288,225.63. This trade represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,902 shares of company stock worth $287,791. Insiders own 38.90% of the company’s stock.

Hedge Funds Weigh In On Weyco Group

Several hedge funds and other institutional investors have recently modified their holdings of WEYS. Innealta Capital LLC acquired a new stake in Weyco Group in the 2nd quarter valued at about $25,000. Allspring Global Investments Holdings LLC grew its stake in shares of Weyco Group by 2,329.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,725 shares of the textile maker’s stock valued at $52,000 after buying an additional 1,654 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Weyco Group by 34.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker’s stock valued at $68,000 after buying an additional 511 shares in the last quarter. Barclays PLC boosted its position in Weyco Group by 263.8% during the third quarter. Barclays PLC now owns 8,003 shares of the textile maker’s stock worth $273,000 after purchasing an additional 5,803 shares during the period. Finally, Ritholtz Wealth Management boosted its position in Weyco Group by 23.4% during the third 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. Institutional investors and hedge funds own 23.59% of the company’s stock.

Weyco Group Company Profile

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.