Vanguard Group Inc. raised its stake in Weyco Group, Inc. (NASDAQ:WEYS) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 215,135 shares of the textile maker’s stock after purchasing an additional 3,251 shares during the quarter. Vanguard Group Inc. owned approximately 2.06% of Weyco Group worth $6,041,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of Weyco Group by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 91,079 shares of the textile maker’s stock valued at $2,558,000 after buying an additional 3,348 shares during the last quarter. Baird Financial Group Inc. lifted its position in shares of Weyco Group by 1.7% in the first quarter. Baird Financial Group Inc. now owns 43,566 shares of the textile maker’s stock valued at $1,223,000 after buying an additional 713 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Weyco Group by 29.4% during the 1st quarter. Martingale Asset Management L P now owns 22,902 shares of the textile maker’s stock worth $644,000 after purchasing an additional 5,201 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in Weyco Group by 5.0% during the 1st quarter. Coldstream Capital Management Inc. now owns 16,843 shares of the textile maker’s stock worth $473,000 after purchasing an additional 803 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Weyco Group by 27.1% during the 4th quarter. Teachers Advisors LLC now owns 12,890 shares of the textile maker’s stock worth $403,000 after purchasing an additional 2,746 shares during the last quarter. Hedge funds and other institutional investors own 32.92% of the company’s stock.
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Several analysts recently weighed in on the company. Zacks Investment Research raised Weyco Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub cut Weyco Group from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, TheStreet cut Weyco Group from a “b” rating to a “c+” rating in a report on Thursday, August 3rd.
In related news, VP Michael Bernsteen sold 4,344 shares of Weyco Group stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $28.00, for a total transaction of $121,632.00. Following the transaction, the vice president now owns 3,765 shares in the company, valued at approximately $105,420. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO John Wittkowske sold 30,040 shares of Weyco Group stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $27.55, for a total transaction of $827,602.00. Following the transaction, the chief financial officer now owns 123,000 shares in the company, valued at approximately $3,388,650. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,337 shares of company stock worth $1,420,404. 42.81% of the stock is owned by corporate insiders.
Weyco Group, Inc. (NASDAQ WEYS) opened at 28.21 on Friday. The firm’s 50-day moving average price is $27.64 and its 200-day moving average price is $27.58. Weyco Group, Inc. has a 1-year low of $23.75 and a 1-year high of $32.30. The company has a market cap of $288.79 million, a price-to-earnings ratio of 18.21 and a beta of 0.70.
Weyco Group (NASDAQ:WEYS) last issued its quarterly earnings data on Tuesday, August 8th. The textile maker reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Weyco Group had a net margin of 5.65% and a return on equity of 6.93%. The firm had revenue of $57.45 million during the quarter. Equities research analysts forecast that Weyco Group, Inc. will post $1.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, August 30th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Monday, August 28th. Weyco Group’s payout ratio is 56.77%.
Weyco Group Profile
Weyco Group, Inc is engaged in the design and distribution of footwear. The Company designs and markets footwear for men, women and children. The Company operates through two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). The Company also has other wholesale and retail businesses overseas, which include its businesses in Australia, South Africa and Asia Pacific (collectively known as Florsheim Australia), and its wholesale and retail businesses in Europe (Florsheim Europe).
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