Weyco Group, Inc. (NASDAQ:WEYS) Short Interest Up 41.5% in December

Weyco Group, Inc. (NASDAQ:WEYS) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 52,200 shares, an increase of 41.5% from the December 15th total of 36,900 shares. Based on an average daily trading volume, of 16,400 shares, the short-interest ratio is presently 3.2 days. Approximately 0.9% of the shares of the stock are short sold.

Weyco Group Price Performance

Shares of Weyco Group stock opened at $34.42 on Wednesday. Weyco Group has a one year low of $27.05 and a one year high of $41.05. The business’s 50 day simple moving average is $36.25 and its two-hundred day simple moving average is $34.08. The stock has a market capitalization of $329.02 million, a P/E ratio of 11.40 and a beta of 0.71.

Weyco Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, November 18th were issued a dividend of $2.26 per share. This is a positive change from Weyco Group’s previous quarterly dividend of $0.26. This represents a $9.04 dividend on an annualized basis and a yield of 26.26%. The ex-dividend date of this dividend was Monday, November 18th. Weyco Group’s dividend payout ratio is currently 34.44%.

Insider Activity at Weyco Group

In related news, VP Allison Woss sold 1,463 shares of the 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Judy Anderson sold 2,893 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was 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 directly owns 13,100 shares of the company’s stock, valued at $497,538. This represents a 18.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,685 shares of company stock valued at $214,730. Corporate insiders own 38.90% of the company’s stock.

Institutional Investors Weigh In On Weyco Group

A number of large investors have recently added to or reduced their stakes in WEYS. Acadian Asset Management LLC grew its stake in shares of Weyco Group by 9.1% in the second quarter. Acadian Asset Management LLC now owns 23,921 shares of the textile maker’s stock worth $724,000 after purchasing an additional 2,002 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Weyco Group by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 558,954 shares of the textile maker’s stock worth $16,947,000 after buying an additional 8,930 shares during the period. Renaissance Technologies LLC grew its position in shares of Weyco Group by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 27,726 shares of the textile maker’s stock worth $841,000 after buying an additional 1,300 shares during the last quarter. Ritholtz Wealth Management increased its stake in shares of Weyco Group by 23.4% during the third quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock valued at $340,000 after buying an additional 1,893 shares during the period. Finally, Annex Advisory Services LLC increased its stake in shares of Weyco Group by 31.8% during the third quarter. Annex Advisory Services LLC now owns 25,183 shares of the textile maker’s stock valued at $857,000 after buying an additional 6,069 shares during the period. Institutional investors own 23.59% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Weyco Group from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

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.