Weyco Group (NASDAQ:WEYS) Hits New 52-Week High – Here’s Why
by Tristan Rich · The Markets DailyWeyco Group, Inc. (NASDAQ:WEYS – Get Free Report)’s share price hit a new 52-week high during trading on Thursday. The company traded as high as $52.48 and last traded at $52.36, with a volume of 12,113 shares changing hands. The stock had previously closed at $51.52.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Weiss Ratings raised Weyco Group from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Wall Street Zen raised shares of Weyco Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat, Weyco Group presently has an average rating of “Buy”.
Read Our Latest Analysis on WEYS
Weyco Group Stock Down 1.1%
The business has a 50-day moving average price of $46.03 and a two-hundred day moving average price of $39.35. The firm has a market cap of $491.44 million, a PE ratio of 14.18 and a beta of 0.89.
Weyco Group (NASDAQ:WEYS – Get Free Report) last released its earnings results on Tuesday, August 4th. The textile maker reported $1.39 earnings per share (EPS) for the quarter. Weyco Group had a return on equity of 14.04% and a net margin of 12.39%. The firm had revenue of $62.22 million during the quarter.
Weyco Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, August 18th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, August 18th. Weyco Group’s dividend payout ratio (DPR) is presently 30.85%.
Insiders Place Their Bets
In related news, insider Damian Walton sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $43.00, for a total value of $47,300.00. Following the sale, the insider owned 6,580 shares of the company’s stock, valued at $282,940. This trade represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin Schiff sold 1,191 shares of Weyco Group stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $45.32, for a total transaction of $53,976.12. Following the completion of the transaction, the vice president owned 27,733 shares of the company’s stock, valued at $1,256,859.56. This represents 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 Investors Weigh In On Weyco Group
Hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG purchased a new stake in shares of Weyco Group during the 2nd quarter worth $235,000. Ritholtz Wealth Management increased its holdings in Weyco Group by 57.0% in the first quarter. Ritholtz Wealth Management now owns 12,360 shares of the textile maker’s stock valued at $396,000 after buying an additional 4,486 shares during the last quarter. Empowered Funds LLC raised its stake in Weyco Group by 3.4% in the first quarter. Empowered Funds LLC now owns 53,793 shares of the textile maker’s stock valued at $1,724,000 after buying an additional 1,787 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Weyco Group in the second quarter valued at $2,952,000. Finally, BlackRock Inc. acquired a new stake in Weyco Group in the second quarter valued at $18,215,000. 23.59% of the stock is currently owned by institutional investors and hedge funds.
Weyco Group Company Profile
Weyco Group, Inc is a footwear company that designs, sources, markets and distributes branded shoes for men, women and children. Its portfolio includes dress, casual, work, outdoor and comfort footwear sold through wholesale and direct-to-consumer channels.
The company’s principal brands include Florsheim, Nunn Bush, Stacy Adams, BOGS and Forsake. Products are distributed through department stores, specialty footwear retailers, independent stores, e-commerce platforms and the company’s own websites and retail operations.
Weyco Group traces its roots to 1896 and is headquartered in Milwaukee, Wisconsin.