Weyco Group (NASDAQ:WEYS) Upgraded to B- at TheStreet

Weyco Group (NASDAQ:WEYS) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Thursday, November 16th.

Separately, BidaskClub lowered Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th.

Shares of Weyco Group (NASDAQ WEYS) opened at $27.18 on Thursday. Weyco Group has a 52-week low of $23.75 and a 52-week high of $32.30. The company has a market capitalization of $277.02, a P/E ratio of 19.55 and a beta of 0.67.

Weyco Group (NASDAQ:WEYS) last announced its earnings results on Friday, October 27th. The textile maker reported $0.48 earnings per share (EPS) for the quarter. Weyco Group had a return on equity of 7.08% and a net margin of 5.81%. The firm had revenue of $76.91 million for the quarter.

In related news, VP Brian Flannery sold 7,145 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $27.95, for a total value of $199,702.75. Following the completion of the transaction, the vice president now directly owns 24,295 shares of the company’s stock, valued at approximately $679,045.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick P. Stratton, Jr. sold 1,400 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $27.87, for a total value of $39,018.00. Following the completion of the transaction, the director now directly owns 125,410 shares of the company’s stock, valued at $3,495,176.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,460 shares of company stock valued at $1,300,150. 42.81% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of WEYS. Swiss National Bank increased its stake in shares of Weyco Group by 18.2% in the 1st quarter. Swiss National Bank now owns 10,400 shares of the textile maker’s stock worth $292,000 after acquiring an additional 1,600 shares during the last quarter. American International Group Inc. increased its position in shares of Weyco Group by 7.0% during the 1st quarter. American International Group Inc. now owns 4,007 shares of the textile maker’s stock worth $113,000 after purchasing an additional 261 shares during the last quarter. California Public Employees Retirement System acquired a new stake in shares of Weyco Group during the 1st quarter worth about $202,000. Vanguard Group Inc. increased its position in shares of Weyco Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 215,135 shares of the textile maker’s stock worth $6,041,000 after purchasing an additional 3,251 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Weyco Group by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 42,602 shares of the textile maker’s stock worth $1,196,000 after purchasing an additional 576 shares during the last quarter. 32.40% of the stock is owned by institutional investors and hedge funds.

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About Weyco Group

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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