Weyco Group (NASDAQ:WEYS) Issues Quarterly Earnings Results

Weyco Group (NASDAQ:WEYS) released its quarterly earnings results on Tuesday. The textile maker reported $0.64 earnings per share (EPS) for the quarter, Zacks reports. Weyco Group had a return on equity of 9.35% and a net margin of 8.36%.

Weyco Group Price Performance

Shares of WEYS stock traded down $0.01 on Tuesday, hitting $31.80. 13,460 shares of the company’s stock were exchanged, compared to its average volume of 13,737. The company has a 50 day moving average of $33.01 and a 200 day moving average of $31.70. The stock has a market cap of $303.09 million, a P/E ratio of 13.20 and a beta of 0.89. Weyco Group has a 12 month low of $27.25 and a 12 month high of $35.18.

Weyco Group Dividend Announcement

The firm 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 of this dividend was Friday, March 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.4%. Weyco Group’s payout ratio is 44.81%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Weyco Group from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its stake in shares of Weyco Group by 7.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,802 shares of the textile maker’s stock valued at $235,000 after purchasing an additional 563 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Weyco Group by 107.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker’s stock valued at $48,000 after purchasing an additional 832 shares in the last quarter. Barclays PLC boosted its stake in shares of Weyco Group by 9.9% in the 4th quarter. Barclays PLC now owns 9,615 shares of the textile maker’s stock valued at $294,000 after purchasing an additional 869 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Weyco Group in the 4th quarter valued at approximately $30,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Weyco Group by 172.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 1,133 shares in the last quarter. Institutional investors own 23.59% of the company’s stock.

Weyco Group Company Profile

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.