BlackRock Inc. Buys Shares of 463,128 Weyco Group, Inc. $WEYS

Key Points

• BlackRock acquired 463,128 Weyco Group shares worth approximately $18.2 million, giving it a 4.86% stake. Institutional investors collectively own 23.59% of the footwear company.
• Analyst sentiment is positive: Weiss Ratings upgraded Weyco to “buy,” Wall Street Zen raised it to “strong-buy,” and the stock has an average “Buy” rating.
• Weyco reported quarterly EPS of $1.39 on $62.22 million in revenue and announced a $0.28 quarterly dividend, equivalent to a $1.12 annual payout and a 2.5% yield.

BlackRock Inc. purchased a new position in shares of Weyco Group, Inc. (NASDAQ:WEYS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 463,128 shares of the textile maker's stock, valued at approximately $18,215,000. BlackRock Inc. owned approximately 4.86% of Weyco Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CANADA LIFE ASSURANCE Co bought a new stake in Weyco Group during the fourth quarter worth approximately $30,000. BNP Paribas Financial Markets boosted its stake in Weyco Group by 107.1% during the third quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker's stock valued at $48,000 after buying an additional 832 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Weyco Group during the fourth quarter valued at about $55,000. Tower Research Capital LLC TRC grew its holdings in 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 acquiring an additional 1,133 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in Weyco Group in the fourth quarter worth about $72,000. 23.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WEYS has been the subject of several research reports. Weiss Ratings upgraded shares of Weyco Group from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, August 21st. Wall Street Zen upgraded shares of Weyco Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Weyco Group currently has an average rating of "Buy".

Insider Transactions at Weyco Group

In other Weyco Group news, VP Kevin Schiff sold 1,191 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $45.32, for a total value of $53,976.12. Following the completion of the sale, the vice president owned 27,733 shares in the company, valued at $1,256,859.56. This represents a 4.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Damian Walton sold 1,100 shares of Weyco Group stock in a transaction on Friday, August 7th. The shares were sold at an average price of $43.00, for a total transaction of $47,300.00. Following the sale, the insider directly owned 6,580 shares of the company's stock, valued at $282,940. This trade represents a 14.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 12,833 shares of company stock worth $558,881. 36.40% of the stock is owned by company insiders.

Weyco Group Stock Down 1.4%

Shares of Weyco Group stock opened at $44.19 on Friday. Weyco Group, Inc. has a 12 month low of $27.25 and a 12 month high of $48.67. The stock has a market cap of $422.01 million, a PE ratio of 12.17 and a beta of 0.89. The business has a fifty day simple moving average of $41.72 and a 200-day simple moving average of $36.68.

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

Weyco Group Dividend Announcement

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

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.

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