Weyco Group (NASDAQ:WEYS) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Weyco Group, Inc. (NASDAQ:WEYS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $33.30 and traded as high as $39.90. Weyco Group shares last traded at $39.89, with a volume of 20,502 shares changing hands.

Analyst Ratings Changes

Several analysts recently issued reports on WEYS shares. Wall Street Zen raised shares of Weyco Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of Weyco Group from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Weyco Group has a consensus rating of “Hold”.

Weyco Group Stock Performance

The company’s 50 day moving average price is $35.56 and its 200 day moving average price is $33.35. The company has a market cap of $376.34 million, a price-to-earnings ratio of 15.92 and a beta of 0.87.

Weyco Group (NASDAQ:WEYS) last issued its quarterly earnings data on Tuesday, May 5th. The textile maker reported $0.64 earnings per share for the quarter. Weyco Group had a net margin of 8.57% and a return on equity of 9.63%. The firm had revenue of $68.00 million for the quarter.

Weyco Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, May 19th were paid a $0.28 dividend. This is an increase from Weyco Group’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Weyco Group’s payout ratio is presently 45.16%.

Institutional Trading of Weyco Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC lifted its position in Weyco Group by 3.4% during the 1st quarter. Empowered Funds LLC now owns 53,793 shares of the textile maker’s stock worth $1,724,000 after buying an additional 1,787 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Weyco Group by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 588,781 shares of the textile maker’s stock worth $18,871,000 after acquiring an additional 5,294 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Weyco Group by 57.0% during the first quarter. Ritholtz Wealth Management now owns 12,360 shares of the textile maker’s stock worth $396,000 after purchasing an additional 4,486 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Weyco Group by 2.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 100,606 shares of the textile maker’s stock valued at $3,078,000 after purchasing an additional 2,226 shares in the last quarter. Finally, Barclays PLC raised its position in Weyco Group by 9.9% in the 4th quarter. Barclays PLC now owns 9,615 shares of the textile maker’s stock worth $294,000 after purchasing an additional 869 shares during the last quarter. 23.59% of the stock is currently owned by institutional investors and hedge funds.

Weyco Group Company Profile

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.