Weyco Group (NASDAQ:WEYS) Reaches New 1-Year High – Still a Buy?

Weyco Group, Inc. (NASDAQ:WEYS) shares reached a new 52-week high during trading on Thursday. The stock traded as high as $52.48 and last traded at $52.36, with a volume of 12113 shares trading hands. The stock had previously closed at $51.52.

Analyst Ratings Changes

WEYS has been the subject of several analyst reports. Wall Street Zen upgraded Weyco Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of Weyco Group from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Weyco Group currently has a consensus rating of “Buy”.

Weyco Group Stock Performance

The company has a market capitalization of $495.36 million, a price-to-earnings ratio of 14.29 and a beta of 0.89. The firm has a fifty day moving average price of $45.53 and a 200-day moving average price of $39.12.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings data on Tuesday, August 4th. The textile maker reported $1.39 earnings per share (EPS) for the quarter. Weyco Group had a net margin of 12.39% and a return on equity of 14.04%. The firm had revenue of $62.22 million for the quarter.

Weyco Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, August 18th. Weyco Group’s payout ratio is presently 30.85%.

Insider Transactions at Weyco Group

In related news, Director Tina M. Chang sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $45.07, for a total transaction of $135,210.00. Following the completion of the transaction, the director directly owned 17,833 shares of the company’s stock, valued at $803,733.31. This trade represents a 14.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Judy Anderson sold 2,602 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $43.27, for a total value of $112,588.54. Following the completion of the sale, the chief financial officer owned 14,418 shares in the company, valued at $623,866.86. The trade was a 15.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 13,953 shares of company stock valued at $616,534. 36.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Weyco Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new position in Weyco Group during the second quarter valued at approximately $2,116,000. BlackRock Inc. purchased a new stake in shares of Weyco Group in the second quarter worth $18,215,000. Deutsche Bank AG bought a new stake in Weyco Group during the second quarter valued at $235,000. Bank of New York Mellon Corp purchased a new position in Weyco Group during the second quarter worth about $2,952,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Weyco Group by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 588,781 shares of the textile maker’s stock valued at $18,871,000 after acquiring an additional 5,294 shares during the last quarter. 23.59% of the stock is owned by hedge funds and other institutional investors.

Weyco Group Company Profile

Weyco Group, Inc is a footwear company that designs, sources, markets and distributes branded shoes for men, women and children. Its portfolio includes dress, casual, work, outdoor and comfort footwear sold through wholesale and direct-to-consumer channels.

The company’s principal brands include Florsheim, Nunn Bush, Stacy Adams, BOGS and Forsake. Products are distributed through department stores, specialty footwear retailers, independent stores, e-commerce platforms and the company’s own websites and retail operations.

Weyco Group traces its roots to 1896 and is headquartered in Milwaukee, Wisconsin.