Weyco Group (NASDAQ:WEYS) Reaches New 52-Week High – What’s Next?

Weyco Group, Inc. (NASDAQ:WEYS) shares reached a new 52-week high during trading on Monday. The stock traded as high as $54.02 and last traded at $53.77, with a volume of 3,261 shares traded. The stock had previously closed at $52.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Weyco Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Weyco Group from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company has an average rating of “Buy”.

Weyco Group Stock Performance

The company has a market cap of $499.27 million, a price-to-earnings ratio of 14.88 and a beta of 0.91. The business has a 50-day simple moving average of $48.41 and a 200-day simple moving average of $38.78.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings data on Tuesday, November 3rd. The textile maker reported $1.19 earnings per share (EPS) for the quarter. Weyco Group had a return on equity of 14.04% and a net margin of 12.39%. The business had revenue of $77.02 million during the quarter.

Weyco Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Tuesday, November 17th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.12 annualized dividend and a yield of 2.1%. Weyco Group’s dividend payout ratio (DPR) is 30.85%.

Insider Transactions at Weyco Group

In other Weyco Group news, insider Damian Walton sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $43.00, for a total transaction of $47,300.00. Following the completion of the transaction, the insider owned 6,580 shares in the company, valued at $282,940. The trade was a 14.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Dustin Combs sold 1,096 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $44.64, for a total transaction of $48,925.44. Following the completion of the sale, the vice president directly owned 4,384 shares in the company, valued at approximately $195,701.76. This represents a 20.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,953 shares of company stock valued at $616,534 over the last quarter. Insiders own 36.40% of the company’s stock.

Institutional Investors Weigh In On Weyco Group

Several institutional investors have recently modified their holdings of the company. Signaturefd LLC purchased a new position in Weyco Group in the third quarter valued at $49,000. Deutsche Bank AG acquired a new stake in Weyco Group in the second quarter valued at $235,000. Empowered Funds LLC raised its stake in Weyco Group by 3.4% in the first quarter. Empowered Funds LLC now owns 53,793 shares of the textile maker’s stock valued at $1,724,000 after buying an additional 1,787 shares in the last quarter. Associated Banc Corp acquired a new stake in Weyco Group in the third quarter valued at $2,164,000. Finally, Bank of New York Mellon Corp purchased a new stake in Weyco Group during the 2nd quarter worth about $2,952,000. 23.59% of the stock is owned by hedge funds and other institutional investors.

Weyco Group Company Profile

Weyco Group, Inc is a footwear company that designs, sources, markets and distributes branded men’s shoes and accessories. Its portfolio includes Florsheim, Nunn Bush, Stacy Adams, BOGS and Forsake, serving dress, casual, outdoor and work-oriented footwear markets.

The company sells its products through department stores, specialty footwear retailers, independent retailers, e-commerce platforms and its own branded websites. Its business is organized around wholesale and direct-to-consumer channels, with products distributed primarily in North America and also in select international markets, including Europe and Australia.

Weyco traces its history to 1892 and is headquartered in Milwaukee, Wisconsin.