Weyco Group (NASDAQ:WEYS) Hits New 1-Year High - Should You Buy?

Key Points

• Weyco Group shares reached a new 52-week high of $52.48 and were last trading at $52.36, up from a prior close of $51.52. The company has a market capitalization of approximately $495 million and a price-to-earnings ratio of 14.29.
• Analyst sentiment is positive, with recent upgrades and a consensus “Buy” rating. Weyco reported quarterly EPS of $1.39 on revenue of $62.22 million, alongside a 2.2% dividend yield.
• Company insiders sold 13,953 shares worth about $616,534 over the past 90 days, while insiders collectively retain a 36.4% ownership stake; institutional investors own 23.59% of the stock.

Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report)'s stock price reached a new 52-week high on Thursday. The stock traded as high as $52.48 and last traded at $52.36, with a volume of 12113 shares trading hands. The stock had previously closed at $51.52.

Analyst Ratings Changes

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

Weyco Group Stock Up 0.7%

The firm's 50-day moving average price is $45.53 and its two-hundred day moving average price is $39.12. The firm has a market capitalization of $495.36 million, a PE ratio of 14.29 and a beta of 0.89.

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

Weyco Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, August 18th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, August 18th. Weyco Group's dividend payout ratio is currently 30.85%.

Insiders Place Their Bets

In other Weyco Group news, VP Allison Woss sold 2,511 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $43.63, for a total value of $109,554.93. Following the completion of the sale, the vice president directly owned 8,663 shares of the company's stock, valued at $377,966.69. This represents a 22.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Judy Anderson sold 2,602 shares of Weyco Group stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $43.27, for a total value of $112,588.54. Following the sale, the chief financial officer directly owned 14,418 shares in the company, valued at approximately $623,866.86. This trade represents a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,953 shares of company stock valued at $616,534 in the last ninety days. Company insiders own 36.40% of the company's stock.

Institutional Trading of Weyco Group

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of Weyco Group by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 588,781 shares of the textile maker's stock valued at $18,871,000 after purchasing an additional 5,294 shares during the period. BlackRock Inc. bought a new position in Weyco Group in the second quarter valued at approximately $18,215,000. Bank of New York Mellon Corp bought a new stake in Weyco Group in the second quarter valued at about $2,952,000. Empowered Funds LLC bought a new position in Weyco Group during the 2nd quarter worth approximately $2,116,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Weyco Group by 57.0% in the 1st quarter. Ritholtz Wealth Management now owns 12,360 shares of the textile maker's stock valued at $396,000 after buying an additional 4,486 shares during the period. 23.59% of the stock is currently owned by institutional investors and hedge funds.

Weyco Group Company Profile

Weyco Group, Inc is a footwear company that designs, sources, markets and distributes branded shoes for men, women and children. Its portfolio includes dress, casual, work, outdoor and comfort footwear sold through wholesale and direct-to-consumer channels.

The company's principal brands include Florsheim, Nunn Bush, Stacy Adams, BOGS and Forsake. Products are distributed through department stores, specialty footwear retailers, independent stores, e-commerce platforms and the company's own websites and retail operations.

Weyco Group traces its roots to 1896 and is headquartered in Milwaukee, Wisconsin.

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