Weyco Group (NASDAQ:WEYS) Releases Quarterly Earnings Results

Weyco Group (NASDAQ:WEYS) released its quarterly earnings data on Tuesday. The textile maker reported $0.64 earnings per share for the quarter, Zacks reports. The company had revenue of $68.00 million for the quarter. Weyco Group had a net margin of 8.57% and a return on equity of 9.60%.

Weyco Group Stock Up 1.7%

NASDAQ WEYS opened at $32.33 on Thursday. The company has a market capitalization of $308.10 million, a P/E ratio of 13.04 and a beta of 0.89. Weyco Group has a 12-month low of $27.25 and a 12-month high of $35.18. The firm has a 50-day moving average price of $33.03 and a two-hundred day moving average price of $31.75.

Weyco Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, May 19th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $1.12 dividend on an annualized basis and a yield of 3.5%. This is an increase from Weyco Group’s previous quarterly dividend of $0.27. Weyco Group’s payout ratio is presently 44.81%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Weyco Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Weyco Group presently has a consensus rating of “Buy”.

Institutional Trading of Weyco Group

A number of institutional investors have recently bought and sold shares of WEYS. Empowered Funds LLC lifted its holdings in shares of Weyco Group by 8.2% during the 1st quarter. Empowered Funds LLC now owns 43,175 shares of the textile maker’s stock worth $1,316,000 after acquiring an additional 3,285 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Weyco Group by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 160,193 shares of the textile maker’s stock worth $5,313,000 after acquiring an additional 2,224 shares during the period. Rhumbline Advisers lifted its holdings in shares of Weyco Group by 21.1% during the 2nd quarter. Rhumbline Advisers now owns 10,989 shares of the textile maker’s stock worth $364,000 after acquiring an additional 1,917 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Weyco Group during the 2nd quarter worth approximately $204,000. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Weyco Group by 4.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 95,961 shares of the textile maker’s stock worth $3,182,000 after acquiring an additional 4,186 shares during the period. Institutional investors own 23.59% of the company’s stock.

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.