Weyco Group (NASDAQ:WEYS) Stock Passes Above 50-Day Moving Average – What’s Next?

Weyco Group, Inc. (NASDAQ:WEYS) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $32.49 and traded as high as $34.71. Weyco Group shares last traded at $34.29, with a volume of 8,548 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded Weyco Group from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings raised Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Weyco Group has an average rating of “Buy”.

Weyco Group Stock Down 0.6%

The business has a fifty day simple moving average of $32.49 and a 200 day simple moving average of $31.31. The company has a market cap of $326.78 million, a price-to-earnings ratio of 14.23 and a beta of 0.89.

Weyco Group (NASDAQ:WEYS) last released its earnings results on Tuesday, March 3rd. The textile maker reported $0.91 EPS for the quarter. Weyco Group had a return on equity of 9.35% and a net margin of 8.36%.The company had revenue of $76.80 million during the quarter.

Weyco Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a $0.27 dividend. The ex-dividend date was Friday, March 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.1%. Weyco Group’s dividend payout ratio (DPR) is currently 44.81%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WEYS. Vanguard Group Inc. raised its position in shares of Weyco Group by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 366,204 shares of the textile maker’s stock worth $11,019,000 after purchasing an additional 2,792 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Weyco Group by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 160,193 shares of the textile maker’s stock worth $5,313,000 after purchasing an additional 2,224 shares during the last quarter. State Street Corp raised its position in shares of Weyco Group by 2.4% during the 4th quarter. State Street Corp now owns 100,675 shares of the textile maker’s stock worth $3,304,000 after purchasing an additional 2,381 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Weyco Group by 2.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 100,606 shares of the textile maker’s stock worth $3,078,000 after purchasing an additional 2,226 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Weyco Group by 4.5% during the 4th quarter. Empowered Funds LLC now owns 52,006 shares of the textile maker’s stock worth $1,591,000 after purchasing an additional 2,226 shares during the last quarter. Hedge funds and other institutional investors own 23.59% of the company’s stock.

About Weyco Group

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.