Weyco Group (NASDAQ:WEYS) Announces Quarterly Earnings Results

Weyco Group (NASDAQ:WEYS) issued its quarterly earnings results on Tuesday. The textile maker reported $1.39 EPS for the quarter, Zacks reports. The firm had revenue of $62.22 million during the quarter. Weyco Group had a return on equity of 14.18% and a net margin of 12.39%.

Weyco Group Stock Down 0.8%

Shares of WEYS stock traded down $0.33 during trading on Thursday, reaching $43.57. 10,174 shares of the company’s stock were exchanged, compared to its average volume of 16,136. Weyco Group has a twelve month low of $27.25 and a twelve month high of $44.48. The firm’s fifty day moving average price is $37.93 and its 200-day moving average price is $34.63. The stock has a market capitalization of $415.22 million, a PE ratio of 12.00 and a beta of 0.88.

Weyco Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, August 18th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.6%. Weyco Group’s payout ratio is presently 45.16%.

Hedge Funds Weigh In On Weyco Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its holdings in shares of Weyco Group by 4.5% in the fourth quarter. Empowered Funds LLC now owns 52,006 shares of the textile maker’s stock valued at $1,591,000 after purchasing an additional 2,226 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Weyco Group by 2.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 100,606 shares of the textile maker’s stock worth $3,078,000 after buying an additional 2,226 shares during the period. Barclays PLC boosted its holdings in shares of Weyco Group by 9.9% during the 4th quarter. Barclays PLC now owns 9,615 shares of the textile maker’s stock worth $294,000 after buying an additional 869 shares during the period. CANADA LIFE ASSURANCE Co acquired a new position in Weyco Group in the 4th quarter valued at about $30,000. Finally, State Street Corp grew its stake in Weyco Group by 2.4% in the 4th quarter. State Street Corp now owns 100,675 shares of the textile maker’s stock valued at $3,304,000 after buying an additional 2,381 shares during the last quarter. 23.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Weyco Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of Weyco Group from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

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.