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

Weyco Group, Inc. (NASDAQ:WEYS) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.57 and traded as low as $30.32. Weyco Group shares last traded at $30.56, with a volume of 9,213 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Weyco Group Stock Performance

The stock has a 50 day moving average of $31.06 and a 200-day moving average of $30.57. The firm has a market capitalization of $291.85 million, a P/E ratio of 12.03 and a beta of 0.97.

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

Weyco Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Monday, November 17th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, November 17th. Weyco Group’s payout ratio is currently 42.52%.

Insider Transactions at Weyco Group

In other Weyco Group news, VP Dustin Combs sold 1,059 shares of the stock in a transaction on Wednesday, November 26th. The stock was 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 in the company, valued at $103,960.95. This represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 35.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Weyco Group

Several hedge funds have recently made changes to their positions in WEYS. BNP Paribas Financial Markets raised its stake in shares of Weyco Group by 107.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock valued at $48,000 after purchasing an additional 832 shares during the period. Tower Research Capital LLC TRC grew its holdings in 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 buying an additional 1,133 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Weyco Group during the third quarter valued at about $105,000. Voya Investment Management LLC purchased a new stake in shares of Weyco Group in the first quarter worth about $201,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Weyco Group in the second quarter worth about $204,000. 23.59% of the stock is currently 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.