Weyco Group (NASDAQ:WEYS) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Weyco Group, Inc. (NASDAQ:WEYS)’s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $32.10 and traded as high as $32.61. Weyco Group shares last traded at $32.19, with a volume of 9,491 shares traded.

Analyst Ratings Changes

A number of research firms recently issued reports on WEYS. Weiss Ratings upgraded Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Wall Street Zen downgraded Weyco Group from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Weyco Group currently has a consensus rating of “Buy”.

Weyco Group Stock Performance

The business has a 50-day simple moving average of $32.22 and a two-hundred day simple moving average of $31.16. The company has a market capitalization of $323.73 million, a price-to-earnings ratio of 14.10 and a beta of 0.89.

Weyco Group (NASDAQ:WEYS) last posted its quarterly earnings data on Tuesday, March 3rd. The textile maker reported $0.91 earnings per share for the quarter. Weyco Group had a return on equity of 9.35% and a net margin of 8.36%.The company had revenue of $76.80 million during the quarter.

Weyco Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, March 13th. Weyco Group’s dividend payout ratio (DPR) is presently 44.81%.

Institutional Trading of Weyco Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Weyco Group by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 366,204 shares of the textile maker’s stock worth $11,019,000 after acquiring an additional 2,792 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Weyco Group by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 160,193 shares of the textile maker’s stock valued at $5,313,000 after buying an additional 2,224 shares during the period. State Street Corp lifted its holdings in shares of 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 period. Bridgeway Capital Management LLC lifted its holdings in shares of Weyco Group by 2.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 100,606 shares of the textile maker’s stock valued at $3,078,000 after buying an additional 2,226 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Weyco Group by 4.5% in the 4th quarter. Empowered Funds LLC now owns 52,006 shares of the textile maker’s stock valued at $1,591,000 after buying an additional 2,226 shares during the period. 23.59% of the stock is owned by institutional investors and hedge funds.

About Weyco Group

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.