Empowered Funds LLC Purchases Shares of 53,793 Weyco Group, Inc. $WEYS

Key Points

• Empowered Funds LLC bought 53,793 shares of Weyco Group, valued at approximately $2.1 million, taking a 0.56% stake. Other institutional investors also increased or initiated positions, with institutions collectively owning 23.59% of the company.
• Weyco Group reported quarterly earnings of $1.39 per share on $62.22 million in revenue, with a 12.39% net margin and 14.04% return on equity. The stock recently traded at $44.19, near its 52-week high of $48.67.
• The company declared a quarterly dividend of $0.28 per share, equivalent to an annualized $1.12 payout and a 2.5% yield. Analysts have upgraded the stock, and its consensus rating is currently Buy, although insiders sold 12,833 shares worth about $558,881 over the past three months.

Empowered Funds LLC purchased a new position in shares of Weyco Group, Inc. (NASDAQ:WEYS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 53,793 shares of the textile maker's stock, valued at approximately $2,116,000. Empowered Funds LLC owned 0.56% of Weyco Group as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of WEYS. BlackRock Inc. acquired a new stake in Weyco Group during the second quarter worth about $18,215,000. Dimensional Fund Advisors LP raised its position in Weyco Group by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 588,781 shares of the textile maker's stock valued at $18,871,000 after acquiring an additional 5,294 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in Weyco Group by 57.0% in the first quarter. Ritholtz Wealth Management now owns 12,360 shares of the textile maker's stock valued at $396,000 after acquiring an additional 4,486 shares during the period. IFG Advisory LLC lifted its holdings in Weyco Group by 39.7% in the fourth quarter. IFG Advisory LLC now owns 10,517 shares of the textile maker's stock valued at $322,000 after acquiring an additional 2,990 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Weyco Group by 44.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,840 shares of the textile maker's stock worth $209,000 after purchasing an additional 2,113 shares in the last quarter. Hedge funds and other institutional investors own 23.59% of the company's stock.

Weyco Group Stock Performance

Weyco Group stock opened at $44.19 on Friday. The stock has a market capitalization of $422.01 million, a P/E ratio of 12.17 and a beta of 0.89. The company's fifty day moving average price is $41.72 and its 200 day moving average price is $36.68. Weyco Group, Inc. has a 1 year low of $27.25 and a 1 year high of $48.67.

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

Weyco Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, August 18th will be paid a $0.28 dividend. 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 dividend payout ratio (DPR) is currently 30.85%.

Insider Transactions at Weyco Group

In other Weyco Group news, Director Tina M. Chang sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $45.07, for a total transaction of $135,210.00. Following the completion of the sale, the director directly owned 17,833 shares in the company, valued at approximately $803,733.31. The trade was a 14.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Damian Walton sold 1,100 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $43.00, for a total value of $47,300.00. Following the transaction, the insider directly owned 6,580 shares of the company's stock, valued at $282,940. The trade was a 14.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,833 shares of company stock worth $558,881 in the last three months. 36.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Weyco Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Weyco Group from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

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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