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 published on Friday morning.

Weyco Group Price Performance

Shares of Weyco Group stock opened at $36.39 on Friday. The firm has a fifty day moving average price of $34.45 and a 200 day moving average price of $32.29. Weyco Group has a 1 year low of $27.05 and a 1 year high of $41.05. The stock has a market cap of $347.89 million, a PE ratio of 12.05 and a beta of 0.71.

Weyco Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, November 18th will be issued a $2.26 dividend. This is a boost from Weyco Group’s previous quarterly dividend of $0.26. The ex-dividend date is Monday, November 18th. This represents a $9.04 dividend on an annualized basis and a yield of 24.84%. Weyco Group’s payout ratio is presently 34.44%.

Insider Transactions at Weyco Group

In related news, CFO Judy Anderson sold 2,893 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.98, for a total transaction of $109,876.14. Following the transaction, the chief financial officer now directly owns 13,100 shares in the company, valued at approximately $497,538. The trade was a 18.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Allison Woss sold 1,463 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $37.81, for a total transaction of $55,316.03. Following the completion of the transaction, the vice president now owns 7,623 shares in the company, valued at $288,225.63. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,902 shares of company stock valued at $287,791 over the last 90 days. Corporate insiders own 38.90% of the company’s stock.

Institutional Investors Weigh In On Weyco Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in 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 buying an additional 1,456 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Weyco Group by 9.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,932 shares of the textile maker’s stock worth $699,000 after acquiring an additional 1,810 shares during the period. Vanguard Group Inc. lifted its stake 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 period. O Shaughnessy Asset Management LLC lifted its stake in shares of 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 acquiring an additional 1,212 shares during the period. Finally, Annex Advisory Services LLC lifted its stake in shares of Weyco Group by 11.8% in the 2nd quarter. Annex Advisory Services LLC now owns 19,114 shares of the textile maker’s stock worth $580,000 after acquiring an additional 2,013 shares during the period. 23.59% of the stock is owned by hedge funds and other 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.