Weyco Group (NASDAQ:WEYS) Shares Cross Above 200-Day Moving Average – What’s Next?

Weyco Group, Inc. (NASDAQ:WEYS)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $33.30 and traded as high as $39.90. Weyco Group shares last traded at $39.89, with a volume of 20,502 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings downgraded shares of Weyco Group from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of Weyco Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Weyco Group Trading Up 1.4%

The company has a market cap of $380.15 million, a price-to-earnings ratio of 16.08 and a beta of 0.87. The business has a fifty day moving average price of $35.46 and a two-hundred day moving average price of $33.30.

Weyco Group (NASDAQ:WEYS) last issued its earnings results on Tuesday, May 5th. The textile maker reported $0.64 earnings per share (EPS) for the quarter. The company had revenue of $68.00 million during the quarter. Weyco Group had a net margin of 8.57% and a return on equity of 9.63%.

Weyco Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from Weyco Group’s previous quarterly dividend of $0.27. Weyco Group’s payout ratio is currently 45.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in Weyco Group by 21.1% during the 2nd quarter. Rhumbline Advisers now owns 10,989 shares of the textile maker’s stock valued at $364,000 after purchasing an additional 1,917 shares during the last quarter. Barclays PLC grew its position in Weyco Group by 9.9% in the 4th quarter. Barclays PLC now owns 9,615 shares of the textile maker’s stock worth $294,000 after purchasing an additional 869 shares during the last quarter. JPMorgan Chase & Co. grew its position in Weyco Group by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,304 shares of the textile maker’s stock worth $280,000 after purchasing an additional 1,837 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Weyco Group by 7.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 7,802 shares of the textile maker’s stock worth $235,000 after purchasing an additional 563 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Weyco Group during the 4th quarter worth about $72,000. 23.59% of the stock is currently owned by institutional investors and hedge funds.

About Weyco Group

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.