Weyco Group (NASDAQ:WEYS) Shares Cross Below 200-Day Moving Average – Here’s Why

Weyco Group, Inc. (NASDAQ:WEYS)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $30.57 and traded as low as $30.32. Weyco Group shares last traded at $30.56, with a volume of 9,213 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Weyco Group has an average rating of “Buy”.

Weyco Group Price Performance

The company has a market cap of $291.85 million, a P/E ratio of 12.03 and a beta of 0.97. The stock has a fifty day moving average price of $31.06 and a two-hundred day moving average price of $30.57.

Weyco Group (NASDAQ:WEYS) last released its quarterly earnings results on Tuesday, November 4th. The textile maker reported $0.69 EPS for the quarter. Weyco Group had a return on equity of 9.82% and a net margin of 8.71%.The business had revenue of $73.12 million during the quarter.

Weyco Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Monday, November 17th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, November 17th. Weyco Group’s dividend payout ratio (DPR) is presently 42.52%.

Insider Transactions at Weyco Group

In other Weyco Group news, VP Dustin Combs sold 1,059 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $30.09, for a total value of $31,865.31. Following the completion of the sale, the vice president owned 3,455 shares in the company, valued at approximately $103,960.95. This trade represents a 23.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 35.50% of the company’s stock.

Hedge Funds Weigh In On Weyco Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in shares of Weyco Group by 7.8% during the third quarter. Russell Investments Group Ltd. now owns 7,802 shares of the textile maker’s stock valued at $235,000 after acquiring an additional 563 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Weyco Group by 107.1% in the third quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock worth $48,000 after purchasing an additional 832 shares during the last quarter. IFG Advisory LLC grew its stake in Weyco Group by 14.1% in the 3rd quarter. IFG Advisory LLC now owns 7,527 shares of the textile maker’s stock valued at $226,000 after purchasing an additional 932 shares during the period. First Business Financial Services Inc. increased its position in shares of Weyco Group by 8.1% during the 3rd quarter. First Business Financial Services Inc. now owns 14,156 shares of the textile maker’s stock valued at $426,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Ritholtz Wealth Management raised its stake in shares of Weyco Group by 16.0% during the 4th quarter. Ritholtz Wealth Management now owns 7,874 shares of the textile maker’s stock worth $241,000 after purchasing an additional 1,084 shares during the period. Hedge funds and other institutional investors own 23.59% of the company’s stock.

Weyco Group Company Profile

Weyco Group, Inc is a publicly traded footwear company (NASDAQ: WEYS) based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men’s dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.