Weyco Group, Inc. (NASDAQ:WEYS) Short Interest Update

Key Points

• Short interest in Weyco Group saw a 34.1% jump in March to 93,415 shares (about 1.5% of the stock), leaving a days-to-cover ratio of 3.3 based on average volume.
• The company declared a quarterly dividend of $0.27 (annualized $1.08) for a 3.4% yield, with an ex-dividend date of March 13 and payment on March 31; the payout ratio is roughly 44.8%.
• Weyco reported last-quarter results of $0.91 EPS on $76.8 million in revenue, has a market cap of $302.5 million and a PE of 13.17, and carries a MarketBeat consensus "Buy" despite mixed analyst actions (one downgrade, one upgrade).

Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 93,415 shares, a growth of 34.1% from the February 26th total of 69,648 shares. Approximately 1.5% of the company's stock are short sold. Based on an average trading volume of 28,006 shares, the days-to-cover ratio is presently 3.3 days.

Hedge Funds Weigh In On Weyco Group

A number of hedge funds have recently bought and sold shares of WEYS. Empowered Funds LLC lifted its holdings in Weyco Group by 4.5% in the fourth quarter. Empowered Funds LLC now owns 52,006 shares of the textile maker's stock valued at $1,591,000 after buying an additional 2,226 shares during the period. Bridgeway Capital Management LLC grew its holdings in Weyco Group by 2.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 100,606 shares of the textile maker's stock worth $3,078,000 after acquiring an additional 2,226 shares during the period. Barclays PLC raised its position in shares of Weyco Group by 9.9% in the 4th quarter. Barclays PLC now owns 9,615 shares of the textile maker's stock worth $294,000 after acquiring an additional 869 shares in the last quarter. CANADA LIFE ASSURANCE Co bought a new position in shares of Weyco Group in the 4th quarter worth about $30,000. Finally, State Street Corp lifted its stake in shares of Weyco Group by 2.4% in the 4th quarter. State Street Corp now owns 100,675 shares of the textile maker's stock valued at $3,304,000 after purchasing an additional 2,381 shares during the period. Institutional investors own 23.59% of the company's stock.

Weyco Group Stock Down 1.7%

NASDAQ WEYS opened at $31.74 on Friday. The firm's 50 day moving average is $31.96 and its 200-day moving average is $31.02. The company has a market capitalization of $302.48 million, a PE ratio of 13.17 and a beta of 0.99. Weyco Group has a 12-month low of $25.51 and a 12-month high of $34.92.

Weyco Group (NASDAQ:WEYS - Get Free Report) last announced its earnings results on Tuesday, March 3rd. The textile maker reported $0.91 EPS for the quarter. The business had revenue of $76.80 million for the quarter. Weyco Group had a return on equity of 9.35% and a net margin of 8.36%.

Weyco Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, March 13th. Weyco Group's dividend payout ratio is currently 44.81%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen cut Weyco Group from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Weiss Ratings raised Weyco Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy".

About Weyco Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.