Bank of New York Mellon Corp Buys New Holdings in Weyco Group, Inc. $WEYS

Bank of New York Mellon Corp bought a new position in Weyco Group, Inc. (NASDAQ:WEYS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 75,058 shares of the textile maker's stock, valued at approximately $2,952,000. Bank of New York Mellon Corp owned approximately 0.79% of Weyco Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Citadel Advisors LLC purchased a new position in shares of Weyco Group during the 3rd quarter worth about $380,000. Arrowstreet Capital Limited Partnership bought a new stake in Weyco Group in the second quarter worth about $204,000. Dimensional Fund Advisors LP lifted its stake in Weyco Group by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 588,781 shares of the textile maker's stock worth $18,871,000 after purchasing an additional 5,294 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of Weyco Group by 57.0% during the first quarter. Ritholtz Wealth Management now owns 12,360 shares of the textile maker's stock valued at $396,000 after buying an additional 4,486 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in shares of Weyco Group by 4.6% during the second quarter. Bridgeway Capital Management LLC now owns 95,961 shares of the textile maker's stock valued at $3,182,000 after buying an additional 4,186 shares during the period. 23.59% of the stock is currently owned by institutional investors.

Weyco Group Price Performance

Shares of NASDAQ WEYS opened at $45.37 on Monday. Weyco Group, Inc. has a twelve month low of $27.25 and a twelve month high of $48.67. The firm has a market cap of $433.28 million, a PE ratio of 12.50 and a beta of 0.89. The business has a fifty day simple moving average of $41.87 and a two-hundred day simple moving average of $36.78.

Weyco Group (NASDAQ:WEYS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The textile maker reported $1.39 earnings per share (EPS) for the quarter. The business had revenue of $62.22 million for the quarter. Weyco Group had a return on equity of 14.04% and a net margin of 12.39%.

Weyco Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, August 18th. Weyco Group's dividend payout ratio is presently 30.85%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WEYS shares. Weiss Ratings upgraded Weyco Group from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, August 21st. Wall Street Zen upgraded Weyco Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy".

Insider Activity at Weyco Group

In other Weyco Group news, VP Kevin Schiff sold 1,191 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $45.32, for a total transaction of $53,976.12. Following the transaction, the vice president owned 27,733 shares of the company's stock, valued at approximately $1,256,859.56. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Judy Anderson sold 2,602 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $43.27, for a total transaction of $112,588.54. Following the completion of the sale, the chief financial officer owned 14,418 shares of the company's stock, valued at approximately $623,866.86. This represents a 15.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,833 shares of company stock worth $558,881 over the last quarter. Corporate insiders own 36.40% of the company's stock.

Weyco Group 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.

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