ValuEngine Downgrades Weyco Group (WEYS) to Hold

ValuEngine downgraded shares of Weyco Group (NASDAQ:WEYS) from a buy rating to a hold rating in a research report released on Tuesday.

Separately, BidaskClub upgraded Weyco Group from a hold rating to a buy rating in a research note on Tuesday, August 14th.

Shares of NASDAQ:WEYS traded up $0.15 during mid-day trading on Tuesday, reaching $33.61. 561 shares of the company traded hands, compared to its average volume of 17,288. The company has a market cap of $333.55 million, a PE ratio of 19.43 and a beta of 0.53. Weyco Group has a 52 week low of $27.02 and a 52 week high of $39.93.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings data on Tuesday, November 6th. The textile maker reported $0.60 earnings per share (EPS) for the quarter. The company had revenue of $78.38 million during the quarter. Weyco Group had a return on equity of 8.50% and a net margin of 6.56%.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, November 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.74%.

In related news, CFO John Wittkowske sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $39.08, for a total transaction of $156,320.00. Following the completion of the transaction, the chief financial officer now directly owns 98,610 shares in the company, valued at approximately $3,853,678.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael Bernsteen sold 1,100 shares of the business’s 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 transaction, the vice president now owns 8,056 shares of the company’s stock, valued at $286,632.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,078 shares of company stock valued at $383,747. 43.60% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Hartford Investment Management Co. bought a new position in shares of Weyco Group during the 2nd quarter valued at approximately $233,000. Schwab Charles Investment Management Inc. lifted its holdings in Weyco Group by 21.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 36,504 shares of the textile maker’s stock worth $1,329,000 after purchasing an additional 6,442 shares in the last quarter. Seizert Capital Partners LLC purchased a new position in Weyco Group in the 3rd quarter worth approximately $249,000. BlackRock Inc. lifted its holdings in Weyco Group by 2.0% in the 2nd quarter. BlackRock Inc. now owns 433,871 shares of the textile maker’s stock worth $15,792,000 after purchasing an additional 8,679 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in Weyco Group in the 3rd quarter worth approximately $337,000. Institutional investors own 30.87% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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