Weyco Group (NASDAQ:WEYS) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Weyco Group (NASDAQ:WEYS) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning.

Weyco Group Trading Up 0.3 %

NASDAQ WEYS opened at $29.33 on Tuesday. The stock has a fifty day simple moving average of $34.58 and a 200-day simple moving average of $34.84. The stock has a market cap of $280.37 million, a PE ratio of 9.71 and a beta of 0.71. Weyco Group has a twelve month low of $27.05 and a twelve month high of $41.05.

Weyco Group (NASDAQ:WEYS) last announced its earnings results on Tuesday, March 4th. The textile maker reported $1.04 earnings per share for the quarter. The company had revenue of $80.47 million during the quarter. Weyco Group had a net margin of 9.94% and a return on equity of 11.52%.

Weyco Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Friday, March 14th. Weyco Group’s payout ratio is 32.91%.

Hedge Funds Weigh In On Weyco Group

Several hedge funds have recently bought and sold shares of WEYS. State Street Corp boosted its position in Weyco Group by 0.4% in the 3rd quarter. State Street Corp now owns 90,832 shares of the textile maker’s stock valued at $3,092,000 after buying an additional 375 shares during the period. AMG National Trust Bank raised its stake in shares of Weyco Group by 1.3% in the fourth quarter. AMG National Trust Bank now owns 36,859 shares of the textile maker’s stock valued at $1,362,000 after acquiring an additional 463 shares in the last quarter. Northern Trust Corp boosted its holdings in Weyco Group by 0.8% in the fourth quarter. Northern Trust Corp now owns 61,123 shares of the textile maker’s stock valued at $2,295,000 after purchasing an additional 463 shares during the period. Ritholtz Wealth Management grew its stake in Weyco Group by 4.8% during the 4th quarter. Ritholtz Wealth Management now owns 10,460 shares of the textile maker’s stock worth $393,000 after purchasing an additional 480 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Weyco Group by 34.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker’s stock worth $68,000 after purchasing an additional 511 shares during the period. Institutional investors and hedge funds own 23.59% of the company’s stock.

Weyco Group Company Profile

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.