Weyco Group (NASDAQ:WEYS) Sets New 52-Week High - Should You Buy?

Key Points

• Weyco Group shares reached a new 52-week high of $53.23, with the stock up from its prior close and trading above its 50-day and 200-day moving averages.
• The company reported quarterly EPS of $1.39 on $62.22 million in revenue, with a 12.39% net margin and 14.04% return on equity. Analysts cited in the article rate the stock “Buy” on average.
• Weyco pays a quarterly dividend of $0.28, or $1.12 annually, yielding about 2.1%. Insiders sold 13,953 shares worth approximately $616,534 over the prior three months, while institutional ownership stood at 23.59%.

Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) shares hit a new 52-week high on Wednesday. The company traded as high as $53.23 and last traded at $52.73, with a volume of 19,052 shares changing hands. The stock had previously closed at $52.43.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen raised Weyco Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 15th. Weiss Ratings raised Weyco Group from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of "Buy".

Weyco Group Stock Up 0.6%

The stock has a 50-day moving average of $46.50 and a 200 day moving average of $39.67. The stock has a market cap of $503.57 million, a PE ratio of 14.44 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 earnings per share (EPS) 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, August 18th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 18th. Weyco Group's dividend payout ratio is 30.85%.

Insiders Place Their Bets

In related news, insider Damian Walton sold 1,100 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $43.00, for a total transaction of $47,300.00. Following the completion of the transaction, the insider owned 6,580 shares of the company's stock, valued at $282,940. This trade represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Dustin Combs sold 1,096 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $44.64, for a total transaction of $48,925.44. Following the transaction, the vice president owned 4,384 shares of the company's stock, valued at $195,701.76. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 13,953 shares of company stock worth $616,534. Company insiders own 36.40% of the company's stock.

Institutional Investors Weigh In On Weyco Group

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in shares of Weyco Group in the 2nd quarter valued at about $2,952,000. BlackRock Inc. purchased a new stake in shares of Weyco Group in the second quarter worth about $18,215,000. Empowered Funds LLC purchased a new stake in shares of Weyco Group in the second quarter worth about $2,116,000. Deutsche Bank AG purchased a new stake in shares of Weyco Group in the second quarter worth about $235,000. Finally, Dimensional Fund Advisors LP grew its holdings 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 worth $18,871,000 after acquiring an additional 5,294 shares during the period. 23.59% of the stock is owned by hedge funds and other institutional investors.

About Weyco Group

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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