Weyco Group (NASDAQ:WEYS) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Weyco Group, Inc. (NASDAQ:WEYS)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $31.94 and traded as high as $35.05. Weyco Group shares last traded at $34.61, with a volume of 13,373 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Weyco Group from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday. Wall Street Zen raised shares of Weyco Group from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Weyco Group Stock Performance

The firm has a market cap of $331.83 million, a P/E ratio of 14.04 and a beta of 0.89. The company’s 50 day moving average is $33.33 and its 200 day moving average is $31.96.

Weyco Group (NASDAQ:WEYS) last issued its quarterly earnings data on Tuesday, May 5th. The textile maker reported $0.64 EPS for the quarter. The business had revenue of $68.01 million during the quarter. Weyco Group had a net margin of 8.57% and a return on equity of 9.63%.

Weyco Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, May 19th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, May 19th. This is a positive change from Weyco Group’s previous quarterly dividend of $0.27. Weyco Group’s payout ratio is currently 43.55%.

Hedge Funds Weigh In On Weyco Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co bought a new position in Weyco Group in the 4th quarter valued at approximately $30,000. BNP Paribas Financial Markets increased its position in Weyco Group by 107.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock valued at $48,000 after acquiring an additional 832 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Weyco Group in the 4th quarter valued at approximately $55,000. Tower Research Capital LLC TRC increased its position 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 valued at $59,000 after acquiring an additional 1,133 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in Weyco Group in the 4th quarter valued at approximately $72,000. 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.