Weyco Group (WEYS) Downgraded by BidaskClub

BidaskClub lowered shares of Weyco Group (NASDAQ:WEYS) from a sell rating to a strong sell rating in a report released on Tuesday morning.

Separately, ValuEngine cut Weyco Group from a buy rating to a hold rating in a research report on Saturday, October 6th.

Shares of NASDAQ:WEYS opened at $31.39 on Tuesday. Weyco Group has a 52-week low of $27.00 and a 52-week high of $39.93. The stock has a market capitalization of $357.43 million, a PE ratio of 22.41 and a beta of 0.40.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings data on Tuesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter. Weyco Group had a return on equity of 7.87% and a net margin of 6.13%. The firm had revenue of $60.89 million during the quarter.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Wednesday, August 29th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Tuesday, August 28th.

In related news, VP Michael Bernsteen sold 1,100 shares of Weyco Group stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $35.58, for a total transaction of $39,138.00. Following the completion of the transaction, the vice president now directly owns 8,056 shares in the company, valued at $286,632.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John Wittkowske sold 4,000 shares of Weyco Group stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $39.08, for a total value of $156,320.00. Following the transaction, the chief financial officer now owns 98,610 shares of the company’s stock, valued at $3,853,678.80. 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 owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Weyco Group by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 490,952 shares of the textile maker’s stock valued at $17,871,000 after acquiring an additional 30,584 shares in the last quarter. BlackRock Inc. raised its position in Weyco Group by 2.0% during the second quarter. BlackRock Inc. now owns 433,871 shares of the textile maker’s stock valued at $15,792,000 after acquiring an additional 8,679 shares in the last quarter. Baird Financial Group Inc. raised its position in Weyco Group by 150.1% during the second quarter. Baird Financial Group Inc. now owns 110,551 shares of the textile maker’s stock valued at $4,024,000 after acquiring an additional 66,355 shares in the last quarter. Renaissance Technologies LLC raised its position in Weyco Group by 30.2% during the second quarter. Renaissance Technologies LLC now owns 64,699 shares of the textile maker’s stock valued at $2,355,000 after acquiring an additional 14,999 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Weyco Group by 21.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 36,504 shares of the textile maker’s stock valued at $1,329,000 after acquiring an additional 6,442 shares in the last quarter. Institutional investors own 30.84% of the company’s stock.

Weyco Group Company Profile

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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