Weyco Group (NASDAQ:WEYS) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Weyco Group, Inc. (NASDAQ:WEYS)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $33.80 and traded as high as $40.36. Weyco Group shares last traded at $39.20, with a volume of 15,516 shares.

Analysts Set New Price Targets

A number of research firms have weighed in on WEYS. Weiss Ratings cut shares of Weyco Group from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Wall Street Zen raised Weyco Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Weyco Group Trading Down 2.8%

The company has a market capitalization of $373.65 million, a price-to-earnings ratio of 15.81 and a beta of 0.87. The stock has a 50-day simple moving average of $36.67 and a 200-day simple moving average of $33.80.

Weyco Group (NASDAQ:WEYS) last released its quarterly earnings results on Tuesday, May 5th. The textile maker reported $0.64 earnings per share for the quarter. The business 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 announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, May 19th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, May 19th. This is an increase from Weyco Group’s previous quarterly dividend of $0.27. Weyco Group’s payout ratio is presently 45.16%.

Institutional Investors Weigh In On Weyco Group

A number of institutional investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its position in shares of Weyco Group by 3.4% during the first quarter. Empowered Funds LLC now owns 53,793 shares of the textile maker’s stock worth $1,724,000 after purchasing an additional 1,787 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Weyco Group by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 588,781 shares of the textile maker’s stock valued at $18,871,000 after buying an additional 5,294 shares during the last quarter. Ritholtz Wealth Management increased its holdings in Weyco Group by 57.0% in the first quarter. Ritholtz Wealth Management now owns 12,360 shares of the textile maker’s stock valued at $396,000 after buying an additional 4,486 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in Weyco Group by 2.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 100,606 shares of the textile maker’s stock valued at $3,078,000 after buying an additional 2,226 shares in the last quarter. Finally, Barclays PLC raised its stake in Weyco Group by 9.9% during the fourth quarter. Barclays PLC now owns 9,615 shares of the textile maker’s stock valued at $294,000 after buying an additional 869 shares in the last quarter. Institutional investors and hedge funds own 23.59% of the company’s stock.

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.