Dustin Combs Sells 1,096 Shares of Weyco Group (NASDAQ:WEYS) Stock

Key Points

• Weyco Group VP Dustin Combs sold 1,096 shares at an average price of $44.64, receiving $48,925.44. The transaction reduced his direct holdings by 20% to 4,384 shares.
• Weyco shares rose 2.3% to $45.86, near the company’s 52-week high. The footwear maker recently reported quarterly EPS of $1.39 on revenue of $62.22 million.
• The company declared a quarterly dividend of $0.28 per share, implying an annualized yield of 2.4%, while research firms upgraded the stock and its consensus rating remained “Buy.”

Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) VP Dustin Combs sold 1,096 shares of the business's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $44.64, for a total transaction of $48,925.44. Following the completion of the transaction, the vice president directly owned 4,384 shares in the company, valued at $195,701.76. This trade represents a 20.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Weyco Group Trading Up 2.3%

Shares of NASDAQ:WEYS traded up $1.02 during midday trading on Friday, reaching $45.86. 5,455 shares of the company were exchanged, compared to its average volume of 16,955. The business's fifty day moving average is $41.03 and its two-hundred day moving average is $36.21. Weyco Group, Inc. has a one year low of $27.25 and a one year high of $48.67. The stock has a market cap of $437.96 million, a PE ratio of 12.63 and a beta of 0.88.

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

Weyco Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, August 18th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Weyco Group's payout ratio is 30.85%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WEYS. Wall Street Zen upgraded Weyco Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. 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. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in Weyco Group by 8.2% during the first quarter. Empowered Funds LLC now owns 43,175 shares of the textile maker's stock valued at $1,316,000 after purchasing an additional 3,285 shares during the period. Geode Capital Management LLC increased its position in shares of Weyco Group by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 160,193 shares of the textile maker's stock valued at $5,313,000 after purchasing an additional 2,224 shares during the last quarter. Rhumbline Advisers increased its position in shares of Weyco Group by 21.1% during the 2nd quarter. Rhumbline Advisers now owns 10,989 shares of the textile maker's stock valued at $364,000 after purchasing an additional 1,917 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Weyco Group during the 2nd quarter valued at $204,000. Finally, Bridgeway Capital Management LLC lifted its position in Weyco Group by 4.6% in the second quarter. Bridgeway Capital Management LLC now owns 95,961 shares of the textile maker's stock worth $3,182,000 after buying an additional 4,186 shares during the last quarter. Hedge funds and other 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.

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