Weyco Group (NASDAQ:WEYS) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Weyco Group (NASDAQ:WEYS – Get Rating) in a report released on Thursday. The firm issued a buy rating on the textile maker’s stock.

Weyco Group Stock Performance

Shares of NASDAQ WEYS opened at $23.26 on Thursday. Weyco Group has a 1 year low of $19.89 and a 1 year high of $32.45. The firm has a market cap of $223.76 million, a price-to-earnings ratio of 7.58 and a beta of 0.88. The stock’s 50-day simple moving average is $25.68 and its 200-day simple moving average is $24.38.

Weyco Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Thursday, March 16th. Weyco Group’s payout ratio is 31.27%.

Institutional Trading of Weyco Group

Hedge funds and other institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC purchased a new stake in shares of Weyco Group during the fourth quarter worth about $33,000. Barclays PLC increased its position in shares of Weyco Group by 533.6% during the fourth quarter. Barclays PLC now owns 1,584 shares of the textile maker’s stock worth $33,000 after acquiring an additional 1,334 shares during the last quarter. BNP Paribas Arbitrage SA bought a new stake in Weyco Group in the second quarter valued at about $35,000. Lazard Asset Management LLC bought a new stake in Weyco Group in the second quarter valued at about $55,000. Finally, BNP Paribas Arbitrage SNC increased its holdings in Weyco Group by 95.8% in the third quarter. BNP Paribas Arbitrage SNC now owns 2,830 shares of the textile maker’s stock valued at $58,000 after buying an additional 1,385 shares during the last quarter. 22.63% of the stock is owned by hedge funds and other institutional investors.

About Weyco Group

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Weyco Group, Inc engages in the design, production and trade of footwear for men, women and children. It operates through the following segments: North American Wholesale Operations and North American Retail Operations. The North American Wholesale Operations segment includes selling products to department stores and specialty shops in the United States and Canada.