Weyco Group (NASDAQ:WEYS) Issues Quarterly Earnings Results

Key Points

• Weyco Group reported quarterly earnings of $0.24 per share, with a return on equity of 11.65% and a net margin of 10.19%.
• Shares of Weyco Group traded down to $29.39, with a 52-week range of $25.51 to $41.05, and the company holds a market capitalization of $281.56 million.
• An institutional investor recently increased its stake in Weyco Group by 8.2%, indicating ongoing interest from hedge funds in the company's stock.

Weyco Group (NASDAQ:WEYS - Get Free Report) posted its quarterly earnings data on Tuesday. The textile maker reported $0.24 earnings per share for the quarter, Zacks reports. The business had revenue of $58.22 million for the quarter. Weyco Group had a return on equity of 10.31% and a net margin of 9.20%.

Weyco Group Stock Up 2.2%

Shares of WEYS stock traded up $0.64 during trading hours on Friday, hitting $30.00. 11,182 shares of the company's stock traded hands, compared to its average volume of 10,801. The stock's fifty day simple moving average is $31.69 and its two-hundred day simple moving average is $31.87. Weyco Group has a 12-month low of $25.51 and a 12-month high of $41.05. The stock has a market cap of $287.40 million, a price-to-earnings ratio of 11.15 and a beta of 0.98.

Weyco Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, August 18th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 18th. Weyco Group's payout ratio is presently 40.15%.

Hedge Funds Weigh In On Weyco Group

A hedge fund recently raised its stake in Weyco Group stock. Geode Capital Management LLC grew its holdings in shares of Weyco Group, Inc. (NASDAQ:WEYS - Free Report) by 1.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 160,193 shares of the textile maker's stock after purchasing an additional 2,224 shares during the period. Geode Capital Management LLC owned approximately 1.67% of Weyco Group worth $5,313,000 as of its most recent SEC filing. Institutional investors and hedge funds own 23.59% of the company's stock.

About Weyco Group

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates in two segments, North American Wholesale Operations and North American Retail Operations. The company offers mid-priced leather dress shoes and casual footwear of man-made materials and leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake brands.