Weyco Group (WEYS) Downgraded by BidaskClub

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BidaskClub lowered shares of Weyco Group (NASDAQ:WEYS) from a sell rating to a strong sell rating in a report released on Tuesday.

Separately, ValuEngine cut Weyco Group from a buy rating to a hold rating in a research note on Saturday, October 6th.

Shares of WEYS stock opened at $31.39 on Tuesday. Weyco Group has a 1-year low of $27.00 and a 1-year high of $39.93. The stock has a market cap of $357.43 million, a P/E ratio of 22.41 and a beta of 0.40.

Weyco Group (NASDAQ:WEYS) last issued its quarterly earnings data on Tuesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter. Weyco Group had a return on equity of 7.87% and a net margin of 6.13%. The company had revenue of $60.89 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Wednesday, August 29th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Tuesday, August 28th.

In other Weyco Group news, CFO John Wittkowske sold 4,000 shares of the stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $39.08, for a total value of $156,320.00. Following the completion of the sale, the chief financial officer now directly owns 98,610 shares in the company, valued at $3,853,678.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael Bernsteen sold 1,100 shares of the stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $35.58, for a total value of $39,138.00. Following the completion of the sale, the vice president now owns 8,056 shares of the company’s stock, valued at $286,632.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,078 shares of company stock valued at $383,747. 43.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in WEYS. Schwab Charles Investment Management Inc. raised its stake in Weyco Group by 39.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 30,062 shares of the textile maker’s stock valued at $1,011,000 after buying an additional 8,534 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Weyco Group in the first quarter valued at about $210,000. Dimensional Fund Advisors LP raised its stake in Weyco Group by 7.8% in the first quarter. Dimensional Fund Advisors LP now owns 460,368 shares of the textile maker’s stock valued at $15,468,000 after buying an additional 33,240 shares during the last quarter. Hartford Investment Management Co. purchased a new stake in Weyco Group in the second quarter valued at about $233,000. Finally, Spark Investment Management LLC purchased a new stake in Weyco Group in the second quarter valued at about $414,000. Institutional investors own 30.84% of the company’s stock.

Weyco Group Company Profile

Weyco Group, Inc, together with its subsidiaries, designs and distributes footwear. The company operates through two segments, North American Wholesale and North American Retail. It engages in the design and marketing footwear for men, women, and children under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Umi brand names.

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