Weyco Group (NASDAQ:WEYS) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Weyco Group, Inc. (NASDAQ:WEYS) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $30.80 and traded as low as $30.13. Weyco Group shares last traded at $30.14, with a volume of 6,171 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Weyco Group Stock Down 1.1%

The company has a market capitalization of $287.84 million, a price-to-earnings ratio of 11.87 and a beta of 0.97. The business’s 50-day moving average is $31.10 and its 200-day moving average is $30.80.

Weyco Group (NASDAQ:WEYS) last released its quarterly earnings data on Tuesday, November 4th. The textile maker reported $0.69 earnings per share for the quarter. The business had revenue of $73.12 million during the quarter. Weyco Group had a return on equity of 9.82% and a net margin of 8.71%.

Weyco Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, November 17th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.08 dividend on an annualized basis and a yield of 3.6%. Weyco Group’s payout ratio is presently 42.52%.

Insider Buying and Selling

In other news, VP Dustin Combs sold 1,059 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $30.09, for a total transaction of $31,865.31. Following the sale, the vice president owned 3,455 shares of the company’s stock, valued at $103,960.95. This trade represents a 23.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 35.50% of the company’s stock.

Institutional Trading of Weyco Group

A number of hedge funds have recently added to or reduced their stakes in WEYS. BNP Paribas Financial Markets increased its holdings in Weyco Group by 107.1% in the third quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock valued at $48,000 after buying an additional 832 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Weyco Group by 172.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker’s stock valued at $59,000 after acquiring an additional 1,133 shares during the period. PNC Financial Services Group Inc. purchased a new position in shares of Weyco Group in the 3rd quarter valued at about $105,000. Voya Investment Management LLC acquired a new position in Weyco Group in the 1st quarter worth about $201,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Weyco Group during the second quarter worth approximately $204,000. 23.59% of the stock is owned by hedge funds and other institutional investors.

Weyco Group Company Profile

Weyco Group, Inc is a publicly traded footwear company (NASDAQ: WEYS) based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men’s dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.