ValuEngine Lowers Weyco Group (WEYS) to Hold

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ValuEngine downgraded shares of Weyco Group (NASDAQ:WEYS) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Separately, BidaskClub raised shares of Weyco Group from a hold rating to a buy rating in a report on Tuesday, August 14th.

Shares of NASDAQ:WEYS remained flat at $$33.46 on Tuesday. 9,884 shares of the stock were exchanged, compared to its average volume of 17,095. Weyco Group has a 1-year low of $27.02 and a 1-year high of $39.93. The stock has a market capitalization of $334.87 million, a PE ratio of 19.50 and a beta of 0.53.

Weyco Group (NASDAQ:WEYS) last announced its earnings results on Tuesday, November 6th. The textile maker reported $0.60 EPS for the quarter. Weyco Group had a net margin of 6.56% and a return on equity of 8.50%. The business had revenue of $78.38 million during the quarter.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, November 30th. This represents a $0.92 annualized dividend and a yield of 2.75%.

In related news, 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 transaction of $39,138.00. Following the completion of the transaction, the vice president now directly owns 8,056 shares of the company’s stock, valued at $286,632.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $156,320.00. Following the transaction, the chief financial officer now directly owns 98,610 shares of the company’s stock, valued at $3,853,678.80. The disclosure for this sale can be found here. Insiders have sold 10,078 shares of company stock valued at $383,747 over the last three months. 43.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of WEYS. Baird Financial Group Inc. raised its holdings in Weyco Group by 150.1% during the second quarter. Baird Financial Group Inc. now owns 110,551 shares of the textile maker’s stock worth $4,024,000 after purchasing an additional 66,355 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Weyco Group by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 460,368 shares of the textile maker’s stock worth $15,468,000 after purchasing an additional 33,240 shares in the last quarter. Renaissance Technologies LLC grew its position in Weyco Group by 30.2% during the second quarter. Renaissance Technologies LLC now owns 64,699 shares of the textile maker’s stock worth $2,355,000 after buying an additional 14,999 shares during the period. Spark Investment Management LLC acquired a new position in Weyco Group during the second quarter worth about $414,000. Finally, First Trust Advisors LP acquired a new position in Weyco Group during the third quarter worth about $337,000. 30.87% of the stock is owned by hedge funds and other institutional investors.

About Weyco Group

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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