Weyco Group (NASDAQ:WEYS) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Weyco Group (NASDAQ:WEYS) from a buy rating to a strong-buy rating in a research report report published on Friday morning.

Weyco Group Stock Up 2.8 %

Weyco Group stock opened at $38.89 on Friday. The company’s 50-day moving average price is $34.45 and its 200-day moving average price is $32.29. Weyco Group has a twelve month low of $27.05 and a twelve month high of $41.05. The company has a market cap of $369.10 million, a PE ratio of 12.88 and a beta of 0.71.

Weyco Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, November 18th will be paid a dividend of $2.26 per share. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from Weyco Group’s previous quarterly dividend of $0.26. This represents a $9.04 dividend on an annualized basis and a dividend yield of 23.25%. Weyco Group’s payout ratio is currently 34.44%.

Insider Buying and Selling

In other Weyco Group news, CFO Judy Anderson sold 2,893 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.98, for a total value of $109,876.14. Following the completion of the sale, the chief financial officer now directly owns 13,100 shares of the company’s stock, valued at $497,538. The trade was a 18.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Allison Woss sold 1,463 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $37.81, for a total transaction of $55,316.03. Following the completion of the sale, the vice president now directly owns 7,623 shares of the company’s stock, valued at approximately $288,225.63. This trade represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,902 shares of company stock valued at $287,791. Company insiders own 38.90% of the company’s stock.

Institutional Investors Weigh In On Weyco Group

Large investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in shares of Weyco Group in the 2nd quarter worth approximately $25,000. Allspring Global Investments Holdings LLC raised its stake in shares of Weyco Group by 2,329.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,725 shares of the textile maker’s stock worth $52,000 after acquiring an additional 1,654 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Weyco Group by 34.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker’s stock worth $68,000 after acquiring an additional 511 shares in the last quarter. Barclays PLC raised its stake in shares of Weyco Group by 263.8% during the 3rd quarter. Barclays PLC now owns 8,003 shares of the textile maker’s stock worth $273,000 after acquiring an additional 5,803 shares in the last quarter. Finally, Ritholtz Wealth Management raised its stake in shares of Weyco Group by 23.4% during the 3rd quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock worth $340,000 after acquiring an additional 1,893 shares in the last quarter. 23.59% of the stock is owned by hedge funds and other institutional investors.

Weyco Group Company Profile

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.