Weyco Group (NASDAQ:WEYS) Announces Earnings Results

Weyco Group (NASDAQ:WEYS) released its earnings results on Tuesday. The textile maker reported $1.19 earnings per share for the quarter, FiscalAI reports. Weyco Group had a net margin of 12.39% and a return on equity of 14.04%. The firm had revenue of $77.02 million during the quarter.

Weyco Group Stock Down 3.2%

NASDAQ:WEYS traded down $1.75 on Tuesday, reaching $52.28. The stock had a trading volume of 72,433 shares, compared to its average volume of 20,348. The company has a market capitalization of $499.27 million, a P/E ratio of 14.40 and a beta of 0.89. Weyco Group has a 1-year low of $27.25 and a 1-year high of $54.48. The stock has a fifty day moving average price of $48.27 and a 200-day moving average price of $38.67.

Analyst Ratings Changes

A number of analysts have weighed in on WEYS shares. Wall Street Zen raised shares of Weyco Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Weyco Group from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, Weyco Group currently has an average rating of “Buy”.

Insider Buying and Selling

In other news, VP Kevin Schiff sold 1,191 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $45.32, for a total transaction of $53,976.12. Following the sale, the vice president directly owned 27,733 shares of the company’s stock, valued at $1,256,859.56. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Judy Anderson sold 1,555 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $44.00, for a total value of $68,420.00. Following the sale, the chief financial officer directly owned 15,341 shares of the company’s stock, valued at $675,004. This represents a 9.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,953 shares of company stock valued at $616,534 in the last 90 days. 36.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WEYS. Bank of New York Mellon Corp acquired a new position in shares of Weyco Group in the 2nd quarter valued at $2,952,000. BlackRock Inc. acquired a new position in Weyco Group in the second quarter valued at about $18,215,000. Empowered Funds LLC acquired a new position in Weyco Group in the second quarter valued at about $2,116,000. Associated Banc Corp bought a new stake in shares of Weyco Group in the third quarter worth about $2,164,000. Finally, Signaturefd LLC bought a new stake in shares of Weyco Group in the third quarter worth about $49,000. Institutional investors own 23.59% of the company’s stock.

About Weyco Group

Weyco Group, Inc is a footwear company that designs, sources, markets and distributes branded men’s shoes and accessories. Its portfolio includes Florsheim, Nunn Bush, Stacy Adams, BOGS and Forsake, serving dress, casual, outdoor and work-oriented footwear markets.

The company sells its products through department stores, specialty footwear retailers, independent retailers, e-commerce platforms and its own branded websites. Its business is organized around wholesale and direct-to-consumer channels, with products distributed primarily in North America and also in select international markets, including Europe and Australia.

Weyco traces its history to 1892 and is headquartered in Milwaukee, Wisconsin.