BidaskClub cut shares of Weyco Group (NASDAQ:WEYS) from a hold rating to a sell rating in a report released on Friday.

WEYS stock opened at $35.31 on Friday. The stock has a market capitalization of $358.75 million, a price-to-earnings ratio of 22.49 and a beta of 0.45. Weyco Group has a 12 month low of $27.00 and a 12 month high of $39.93.

Weyco Group (NASDAQ:WEYS) last released its quarterly earnings data on Tuesday, August 7th. The textile maker reported $0.15 EPS for the quarter. Weyco Group had a net margin of 6.13% and a return on equity of 7.87%. The company had revenue of $60.89 million during the quarter.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Wednesday, August 29th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, August 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.61%.

In other news, VP Michael Bernsteen sold 1,100 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $35.58, for a total value of $39,138.00. Following the completion of the sale, the vice president now owns 8,056 shares of the company’s stock, valued at approximately $286,632.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Judy Anderson sold 1,578 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $37.60, for a total transaction of $59,332.80. Following the completion of the sale, the vice president now directly owns 6,250 shares of the company’s stock, valued at approximately $235,000. The disclosure for this sale can be found here. In the last three months, insiders sold 10,078 shares of company stock valued at $383,747. Corporate insiders own 43.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of WEYS. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Weyco Group in the 1st quarter valued at approximately $210,000. Hartford Investment Management Co. purchased a new stake in shares of Weyco Group in the 2nd quarter valued at approximately $233,000. Spark Investment Management LLC purchased a new stake in shares of Weyco Group in the 2nd quarter valued at approximately $414,000. Schwab Charles Investment Management Inc. grew its stake in shares of Weyco Group by 39.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 30,062 shares of the textile maker’s stock valued at $1,011,000 after buying an additional 8,534 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Weyco Group by 30.2% in the 2nd quarter. Renaissance Technologies LLC now owns 64,699 shares of the textile maker’s stock valued at $2,355,000 after buying an additional 14,999 shares during the period. 30.84% of the stock is owned by institutional investors and hedge funds.

About Weyco Group

Weyco Group, Inc, together with its subsidiaries, designs and distributes footwear. The company operates through two segments, North American Wholesale and North American Retail. It engages in the design and marketing footwear for men, women, and children under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Umi brand names.

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