Weyco Group (NASDAQ:WEYS) Announces Quarterly Earnings Results

Weyco Group (NASDAQ:WEYS) issued its quarterly earnings results on Tuesday. The textile maker reported $1.39 earnings per share for the quarter, Zacks reports. Weyco Group had a return on equity of 9.63% and a net margin of 8.57%.

Weyco Group Stock Performance

Shares of NASDAQ:WEYS traded up $0.54 during midday trading on Tuesday, hitting $40.96. 35,641 shares of the company’s stock traded hands, compared to its average volume of 15,984. The company has a market cap of $390.35 million, a PE ratio of 16.52 and a beta of 0.88. The firm’s fifty day moving average price is $37.68 and its two-hundred day moving average price is $34.46. Weyco Group has a twelve month low of $27.25 and a twelve month high of $41.86.

Analyst Upgrades and Downgrades

Several research firms recently commented on WEYS. Wall Street Zen upgraded Weyco Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings cut Weyco Group from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Weyco Group has an average rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co acquired a new position in shares of Weyco Group during the fourth quarter worth about $30,000. BNP Paribas Financial Markets lifted its position in Weyco Group by 107.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock worth $48,000 after acquiring an additional 832 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Weyco Group in the 4th quarter worth approximately $55,000. Tower Research Capital LLC TRC boosted its holdings in Weyco Group by 172.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker’s stock worth $59,000 after acquiring an additional 1,133 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Weyco Group in the fourth quarter valued at approximately $72,000. 23.59% of the stock is owned by hedge funds and other institutional investors.

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.