Weyco Group (NASDAQ:WEYS) Sees Unusually-High Trading Volume Following Dividend Announcement

Weyco Group, Inc. (NASDAQ:WEYS) saw unusually-high trading volume on Wednesday after the company announced a dividend. 69,201 shares traded hands during trading, an increase of 238% from the average daily volume of 20,479 shares. The stock last traded at $59.35 and had previously closed at $52.28.

The newly announced dividend which will be paid on Friday, January 8th. Investors of record on Tuesday, November 17th will be paid a dividend of $0.28 per share. The ex-dividend date is Tuesday, November 17th. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. Weyco Group’s dividend payout ratio is currently 30.85%.

Analysts Set New Price Targets

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

Weyco Group Stock Up 13.5%

The company has a market cap of $566.79 million, a price-to-earnings ratio of 16.35 and a beta of 0.91. The company has a fifty day simple moving average of $48.41 and a two-hundred day simple moving average of $38.78.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings data on Tuesday, November 3rd. The textile maker reported $1.19 EPS for the quarter. Weyco Group had a return on equity of 14.04% and a net margin of 12.39%. The business had revenue of $77.02 million during the quarter.

Insider Buying and Selling at Weyco Group

In other news, insider Damian Walton sold 1,100 shares of Weyco Group stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $43.00, for a total value of $47,300.00. Following the completion of the transaction, the insider owned 6,580 shares in the company, valued at approximately $282,940. This trade represents a 14.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Judy Anderson sold 2,602 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $43.27, for a total transaction of $112,588.54. Following the completion of the transaction, the chief financial officer owned 14,418 shares in the company, valued at approximately $623,866.86. The trade was a 15.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 13,953 shares of company stock valued at $616,534. Corporate insiders own 36.40% of the company’s stock.

Institutional Investors Weigh In On Weyco Group

A number of hedge funds have recently added to or reduced their stakes in WEYS. Associated Banc Corp bought a new position in shares of Weyco Group during the third quarter worth about $2,164,000. Signaturefd LLC acquired a new stake in shares of Weyco Group in the 3rd quarter worth about $49,000. Empowered Funds LLC bought a new stake in Weyco Group in the 2nd quarter valued at about $2,116,000. BlackRock Inc. bought a new stake in Weyco Group in the 2nd quarter valued at about $18,215,000. Finally, Deutsche Bank AG acquired a new position in Weyco Group during the 2nd quarter valued at about $235,000. 23.59% of the stock is currently owned by institutional investors.

Weyco Group Company Profile

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.