WEG (OTCMKTS:WEGZY) Trading Up 1.6% – Here’s Why

Weg S.A. (OTCMKTS:WEGZY) shares traded up 1.6% on Monday . The company traded as high as $8.45 and last traded at $8.32. 23,956 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 73,202 shares. The stock had previously closed at $8.19.

Analysts Set New Price Targets

Separately, Jefferies Financial Group started coverage on WEG in a research note on Wednesday, November 26th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

WEG Trading Up 1.6%

The firm’s 50-day simple moving average is $7.56 and its two-hundred day simple moving average is $7.34.

WEG Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, October 6th will be issued a $0.0136 dividend. The ex-dividend date is Friday, October 3rd. This represents a dividend yield of 163.0%. WEG’s dividend payout ratio is currently 24.44%.

WEG Company Profile

WEG SA engages in the production and sale of capital goods in Brazil and internationally. The company offers electric motors, generators, and transformers; gear units and geared motors; hydraulic and steam turbines; frequency converters; motor starters and maneuver devices; control and protection of electric circuits for industrial automation; power sockets and switches; and electric traction solutions for heavy vehicles, SUV vehicles, locomotives, and sea transportation capital goods.