Weyco Group (NASDAQ:WEYS) Shares Cross Below 200 Day Moving Average – Here’s Why

Weyco Group, Inc. (NASDAQ:WEYS)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $34.03 and traded as low as $33.92. Weyco Group shares last traded at $34.34, with a volume of 11,875 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Weyco Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th.

Weyco Group Stock Down 0.4 %

The firm has a market capitalization of $328.26 million, a P/E ratio of 11.37 and a beta of 0.71. The company has a fifty day simple moving average of $36.24 and a 200 day simple moving average of $34.03.

Weyco Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, November 18th were paid a $2.26 dividend. This is a boost from Weyco Group’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, November 18th. This represents a $9.04 dividend on an annualized basis and a yield of 26.32%. Weyco Group’s payout ratio is presently 34.44%.

Insider Buying and Selling at Weyco Group

In related news, VP Allison Woss sold 1,463 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $37.81, for a total transaction of $55,316.03. Following the sale, the vice president now directly owns 7,623 shares of the company’s stock, valued at $288,225.63. This trade represents a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Judy Anderson sold 2,893 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $37.98, for a total value of $109,876.14. Following the completion of the transaction, the chief financial officer now directly owns 13,100 shares of the company’s stock, valued at approximately $497,538. This trade represents a 18.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,685 shares of company stock worth $214,730. 38.90% of the stock is owned by corporate insiders.

Institutional Trading of Weyco Group

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in Weyco Group by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 558,954 shares of the textile maker’s stock valued at $16,947,000 after purchasing an additional 8,930 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Weyco Group by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 154,827 shares of the textile maker’s stock valued at $5,271,000 after buying an additional 5,307 shares during the period. State Street Corp boosted its stake in shares of Weyco Group by 0.4% in the 3rd quarter. State Street Corp now owns 90,832 shares of the textile maker’s stock worth $3,092,000 after buying an additional 375 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Weyco Group by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 89,620 shares of the textile maker’s stock worth $2,717,000 after acquiring an additional 2,190 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Weyco Group by 5.1% in the third quarter. Empowered Funds LLC now owns 36,042 shares of the textile maker’s stock worth $1,227,000 after acquiring an additional 1,742 shares during the period. 23.59% of the stock is currently owned by institutional investors.

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.