Zacks Investment Research upgraded shares of Weyco Group Inc. (NASDAQ:WEYS) from a strong sell rating to a hold rating in a research report report published on Thursday morning.

According to Zacks, “Weyco Group Inc. is engage in the business of the manufacture, purchase and distribution of men’s footwear. The principal brands of shoes sold are Nunn Bush, Brass Boot, and Stacy Adams. The company’s products consist of both mid-priced quality leather dress shoes which would be worn as a part of more formal and traditional attire and lower priced quality casual footwear of man-made materials or leather which would be used for leisure or less formal occasions. “

Several other research firms have also issued reports on WEYS. B. Riley restated a neutral rating and issued a $24.00 price target on shares of Weyco Group in a research report on Saturday, August 6th. TheStreet lowered Weyco Group from a buy rating to a hold rating in a report on Wednesday, August 3rd.

Shares of Weyco Group (NASDAQ:WEYS) traded down 0.19% on Thursday, reaching $26.55. The company’s stock had a trading volume of 916 shares. The company’s 50 day moving average is $26.26 and its 200-day moving average is $27.00. Weyco Group has a 1-year low of $22.94 and a 1-year high of $29.18. The stock has a market cap of $279.81 million, a PE ratio of 17.49 and a beta of 0.54.

Weyco Group (NASDAQ:WEYS) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.07. Weyco Group had a return on equity of 8.16% and a net margin of 5.16%. The company earned $56.90 million during the quarter, compared to the consensus estimate of $63.98 million. On average, equities analysts predict that Weyco Group will post $1.36 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, August 29th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $0.84 annualized dividend and a yield of 3.16%. Weyco Group’s dividend payout ratio is presently 56.00%.

A number of hedge funds and other institutional investors have recently bought and sold shares of WEYS. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Weyco Group during the first quarter worth approximately $140,000. Bank of Montreal Can purchased a new stake in shares of Weyco Group during the second quarter worth approximately $316,000. Schwab Charles Investment Management Inc. raised its stake in shares of Weyco Group by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 16,668 shares of the company’s stock worth $464,000 after buying an additional 252 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of Weyco Group by 174.3% in the second quarter. Coldstream Capital Management Inc. now owns 24,702 shares of the company’s stock worth $686,000 after buying an additional 15,697 shares during the period. Finally, BlackRock Investment Management LLC raised its stake in shares of Weyco Group by 6.4% in the second quarter. BlackRock Investment Management LLC now owns 25,815 shares of the company’s stock worth $717,000 after buying an additional 1,543 shares during the period. Hedge funds and other institutional investors own 32.00% of the company’s stock.

About Weyco Group

Weyco Group, Inc is engaged in the design and distribution of footwear. The Company designs and markets footwear for men, women and children. The Company operates through two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). The Company also has other wholesale and retail businesses overseas, which include its businesses in Australia, South Africa and Asia Pacific (collectively known as Florsheim Australia), and its wholesale and retail businesses in Europe.

5 Day Chart for NASDAQ:WEYS

Receive News & Stock Ratings for Weyco Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weyco Group Inc. and related stocks with our FREE daily email newsletter.