Allspring Global Investments Holdings LLC Raises Position in Weyco Group, Inc. (NASDAQ:WEYS)

Allspring Global Investments Holdings LLC grew its holdings in shares of Weyco Group, Inc. (NASDAQ:WEYS - Free Report) by 48.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,898 shares of the textile maker's stock after purchasing an additional 7,752 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.25% of Weyco Group worth $728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in Weyco Group by 23.7% during the 4th quarter. Wells Fargo & Company MN now owns 4,040 shares of the textile maker's stock worth $152,000 after purchasing an additional 775 shares during the period. Martingale Asset Management L P acquired a new position in Weyco Group during the 4th quarter worth approximately $218,000. LPL Financial LLC acquired a new position in Weyco Group during the 4th quarter worth approximately $324,000. Deutsche Bank AG increased its position in Weyco Group by 93.0% during the 4th quarter. Deutsche Bank AG now owns 9,021 shares of the textile maker's stock worth $339,000 after purchasing an additional 4,348 shares during the period. Finally, Barclays PLC increased its position in Weyco Group by 13.8% during the 4th quarter. Barclays PLC now owns 9,106 shares of the textile maker's stock worth $342,000 after purchasing an additional 1,103 shares during the period. Institutional investors and hedge funds own 23.59% of the company's stock.

Weyco Group Stock Down 2.7%

Shares of WEYS traded down $0.92 on Friday, reaching $32.81. The stock had a trading volume of 5,225 shares, compared to its average volume of 14,618. The firm has a market capitalization of $314.32 million, a PE ratio of 10.79 and a beta of 0.92. The firm has a 50-day moving average of $32.08 and a 200 day moving average of $32.56. Weyco Group, Inc. has a twelve month low of $25.51 and a twelve month high of $41.05.

Weyco Group (NASDAQ:WEYS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The textile maker reported $0.57 earnings per share for the quarter. Weyco Group had a return on equity of 11.65% and a net margin of 10.19%. The business had revenue of $68.03 million for the quarter.

Weyco Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 16th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.08 dividend on an annualized basis and a yield of 3.29%. This is a positive change from Weyco Group's previous quarterly dividend of $0.26. Weyco Group's dividend payout ratio is presently 35.53%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Weyco Group from a "strong-buy" rating to a "buy" rating in a report on Wednesday, April 9th.

Weyco Group Profile

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.