Weyco Group (NASDAQ:WEYS) Issues Earnings Results

Weyco Group (NASDAQ:WEYS) announced its quarterly earnings results on Tuesday. The textile maker reported $1.19 EPS for the quarter, FiscalAI reports. Weyco Group had a return on equity of 14.04% and a net margin of 12.39%. The company had revenue of $77.02 million for the quarter.

Weyco Group Stock Performance

Shares of NASDAQ:WEYS opened at $52.28 on Wednesday. The company has a market cap of $499.27 million, a P/E ratio of 14.88 and a beta of 0.91. The stock’s 50-day moving average is $48.41 and its 200-day moving average is $38.78. Weyco Group has a 52-week low of $27.25 and a 52-week high of $54.48.

Weyco Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Tuesday, November 17th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, November 17th. Weyco Group’s dividend payout ratio (DPR) is currently 30.85%.

Insiders Place Their Bets

In related news, VP Allison Woss sold 2,511 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $43.63, for a total transaction of $109,554.93. Following the completion of the sale, the vice president owned 8,663 shares in the company, valued at $377,966.69. This represents a 22.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Judy Anderson sold 2,602 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $43.27, for a total value of $112,588.54. Following the sale, the chief financial officer owned 14,418 shares of the company’s stock, valued at approximately $623,866.86. The trade was a 15.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,953 shares of company stock valued at $616,534 in the last ninety days. Company insiders own 36.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew 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. BlackRock Inc. bought a new position in Weyco Group during the second quarter worth $18,215,000. Bank of New York Mellon Corp bought a new position in Weyco Group during the second quarter worth $2,952,000. Associated Banc Corp acquired a new position in Weyco Group during the 3rd quarter valued at $2,164,000. Finally, Empowered Funds LLC acquired a new position in Weyco Group during the 2nd quarter valued at $2,116,000. 23.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.