Insider Selling: Weyco Group (NASDAQ:WEYS) Director Sells 2,030 Shares of Company Stock

Key Points

• Director Frederick Stratton Jr. sold 2,030 Weyco Group shares at an average price of $61.70, for proceeds of $125,251. The sale reduced his direct holdings by 83.03%, to 415 shares.
• Weyco reported quarterly earnings of $1.19 per share on revenue of $77.02 million, and announced a quarterly dividend of $0.28 per share, equivalent to a 1.8% yield.
• WEYS traded at $60.68, near its 12-month high of $68.39; the stock’s average analyst rating was “Buy.”

Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) Director Frederick Stratton, Jr. sold 2,030 shares of Weyco Group stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $61.70, for a total value of $125,251.00. Following the completion of the transaction, the director directly owned 415 shares in the company, valued at $25,605.50. This represents a 83.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Weyco Group Price Performance

NASDAQ WEYS traded down $0.08 on Tuesday, hitting $60.68. 46,362 shares of the company were exchanged, compared to its average volume of 21,860. Weyco Group, Inc. has a twelve month low of $27.25 and a twelve month high of $68.39. The firm has a market capitalization of $579.49 million, a P/E ratio of 14.69 and a beta of 0.91. The company's 50 day moving average price is $49.78 and its 200-day moving average price is $39.40.

Weyco Group (NASDAQ:WEYS - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The textile maker reported $1.19 EPS for the quarter. Weyco Group had a net margin of 13.96% and a return on equity of 16.11%. The company had revenue of $77.02 million during the quarter.

Weyco Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, November 17th. Weyco Group's payout ratio is presently 27.12%.

Institutional Trading of Weyco Group

Several institutional investors have recently made changes to their positions in the stock. Ritholtz Wealth Management grew its position in Weyco Group by 13.6% during the third quarter. Ritholtz Wealth Management now owns 23,083 shares of the textile maker's stock valued at $1,117,000 after purchasing an additional 2,755 shares in the last quarter. Associated Banc Corp purchased a new stake in Weyco Group in the 3rd quarter worth approximately $2,164,000. Signaturefd LLC purchased a new stake in Weyco Group in the 3rd quarter worth approximately $49,000. Empowered Funds LLC acquired a new stake in shares of Weyco Group during the 2nd quarter valued at $2,116,000. Finally, BlackRock Inc. acquired a new stake in shares of Weyco Group during the 2nd quarter valued at $18,215,000. 23.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WEYS has been the subject of a number of research analyst reports. 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 report on Saturday, August 15th. One analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company has an average rating of "Buy".

About Weyco Group

Weyco Group, Inc. is a footwear company that designs, sources, markets and distributes branded men's shoes and accessories. Its portfolio includes Florsheim, Nunn Bush, Stacy Adams, BOGS and Forsake, serving dress, casual, outdoor and work-oriented footwear markets. The company sells its products through department stores, specialty footwear retailers, independent retailers, e-commerce platforms and its own branded websites. Its business is organized around wholesale and direct-to-consumer channels, with products distributed primarily in North America and also in select international markets, including Europe and Australia.

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