Weyco Group (NASDAQ:WEYS) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Weyco Group (NASDAQ:WEYS) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings upgraded shares of Weyco Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

Weyco Group Trading Up 2.6%

NASDAQ:WEYS opened at $35.13 on Friday. The firm has a 50-day moving average price of $32.56 and a two-hundred day moving average price of $31.38. Weyco Group has a twelve month low of $27.25 and a twelve month high of $35.18. The company has a market capitalization of $334.79 million, a P/E ratio of 14.58 and a beta of 0.89.

Weyco Group (NASDAQ:WEYS) last posted its earnings results on Tuesday, March 3rd. The textile maker reported $0.91 earnings per share for the quarter. Weyco Group had a net margin of 8.36% and a return on equity of 9.35%. The firm had revenue of $76.80 million during the quarter.

Weyco Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, March 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.1%. Weyco Group’s payout ratio is 44.81%.

Institutional Investors Weigh In On Weyco Group

Hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Weyco Group during the fourth quarter worth about $30,000. BNP Paribas Financial Markets grew its holdings in shares of Weyco Group by 107.1% during the third quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock worth $48,000 after buying an additional 832 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Weyco Group by 172.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker’s stock worth $59,000 after buying an additional 1,133 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Weyco Group during the fourth quarter worth about $55,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Weyco Group during the fourth quarter worth about $72,000. 23.59% of the stock is currently owned by hedge funds and other institutional investors.

About Weyco Group

Weyco Group, Inc is a publicly traded footwear company (NASDAQ: WEYS) based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men’s dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.