Weyco Group (NASDAQ:WEYS) Upgraded at StockNews.com

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

Weyco Group Stock Down 2.1 %

Shares of WEYS stock opened at $29.34 on Tuesday. The company has a 50 day moving average price of $34.36 and a 200-day moving average price of $34.76. Weyco Group has a 52 week low of $27.05 and a 52 week high of $41.05. The firm has a market capitalization of $280.46 million, a PE ratio of 9.72 and a beta of 0.71.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings results on Tuesday, March 4th. The textile maker reported $1.04 EPS for the quarter. The firm had revenue of $80.47 million during the quarter. Weyco Group had a net margin of 9.94% and a return on equity of 11.52%.

Weyco Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 14th. This represents a $1.04 annualized dividend and a yield of 3.54%. Weyco Group’s dividend payout ratio (DPR) is 32.91%.

Institutional Trading of Weyco Group

Several large investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in Weyco Group by 0.4% during the third quarter. State Street Corp now owns 90,832 shares of the textile maker’s stock valued at $3,092,000 after buying an additional 375 shares during the period. AMG National Trust Bank grew its position in Weyco Group by 1.3% during the fourth quarter. AMG National Trust Bank now owns 36,859 shares of the textile maker’s stock valued at $1,362,000 after buying an additional 463 shares during the period. Northern Trust Corp grew its position in Weyco Group by 0.8% during the fourth quarter. Northern Trust Corp now owns 61,123 shares of the textile maker’s stock valued at $2,295,000 after buying an additional 463 shares during the period. Ritholtz Wealth Management grew its position in Weyco Group by 4.8% during the fourth quarter. Ritholtz Wealth Management now owns 10,460 shares of the textile maker’s stock valued at $393,000 after buying an additional 480 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Weyco Group by 34.1% during the third quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker’s stock valued at $68,000 after buying an additional 511 shares during the period. 23.59% of the stock is currently owned by 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.