ValuEngine Lowers Weyco Group (WEYS) to Hold

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

Separately, BidaskClub lowered shares of Weyco Group from a strong-buy rating to a buy rating in a research report on Wednesday, July 11th.

Shares of WEYS stock remained flat at $$33.46 during trading hours on Tuesday. 9,884 shares of the stock traded hands, compared to its average volume of 17,095. The firm has a market capitalization of $334.87 million, a price-to-earnings ratio of 19.50 and a beta of 0.53. Weyco Group has a twelve month low of $27.02 and a twelve month high of $39.93.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be given a $0.23 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.75%.

In other news, VP Michael Bernsteen sold 1,100 shares of the 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 sale, the vice president now directly owns 8,056 shares in the company, valued at $286,632.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Wittkowske sold 4,000 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $39.08, for a total transaction of $156,320.00. Following the completion of the sale, the chief financial officer now owns 98,610 shares in the company, valued at $3,853,678.80. The disclosure for this sale can be found here. Insiders sold 10,078 shares of company stock worth $383,747 over the last quarter. Company insiders own 43.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its stake in shares of 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 buying an additional 66,355 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Weyco Group by 7.8% during the first quarter. Dimensional Fund Advisors LP now owns 460,368 shares of the textile maker’s stock valued at $15,468,000 after buying an additional 33,240 shares during the period. Renaissance Technologies LLC lifted its stake in shares of 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 buying an additional 14,999 shares during the period. Spark Investment Management LLC purchased a new position in shares of Weyco Group during the second quarter valued at approximately $414,000. Finally, First Trust Advisors LP purchased a new position in shares of Weyco Group during the third quarter valued at approximately $337,000. Institutional investors and hedge funds 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.

Further Reading: Book Value Per Share in Stock Trading

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