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

StockNews.com upgraded shares of Weyco Group (NASDAQ:WEYS) from a buy rating to a strong-buy rating in a report issued on Friday morning.

Weyco Group Stock Up 2.8 %

NASDAQ:WEYS traded up $1.07 during mid-day trading on Friday, reaching $38.89. The company’s stock had a trading volume of 31,578 shares, compared to its average volume of 15,597. Weyco Group has a 1 year low of $27.05 and a 1 year high of $41.05. The firm has a market capitalization of $369.07 million, a PE ratio of 12.88 and a beta of 0.71. The stock has a fifty day moving average of $34.45 and a 200-day moving average of $32.24.

Weyco Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, November 18th will be given a $2.26 dividend. This represents a $9.04 annualized dividend and a dividend yield of 23.25%. This is a positive change from Weyco Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, November 18th. Weyco Group’s payout ratio is presently 34.44%.

Insider Buying and Selling at Weyco Group

In other Weyco Group news, insider Damian Walton sold 1,340 shares of the firm’s stock in a transaction on 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 16.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Judy Anderson sold 2,893 shares of Weyco Group stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $37.98, for a total value of $109,876.14. Following the sale, the chief financial officer now directly owns 13,100 shares of the company’s stock, valued at approximately $497,538. This represents a 18.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,402 shares of company stock valued at $304,656. 38.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Weyco Group

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