Weyco Group (NASDAQ:WEYS) Releases Earnings Results

Key Points

• Weyco Group reported $0.64 EPS for the quarter, with a net margin of 8.36% and ROE of 9.35%; the stock trades around $31.80, has a market cap near $303 million and a P/E of about 13.2.
• The company paid a quarterly dividend of $0.27 per share (annualized $1.08), implying a 3.4% yield and a payout ratio of roughly 44.8%.
• Institutional investors own about 23.6% of the shares after several funds modestly increased positions, while analyst sentiment is mixed—Wall Street Zen cut its rating to "hold" though MarketBeat shows a consensus "Buy."

Weyco Group (NASDAQ:WEYS - Get Free Report) released its earnings results on Tuesday. The textile maker reported $0.64 EPS for the quarter, Zacks reports. Weyco Group had a net margin of 8.36% and a return on equity of 9.35%.

Weyco Group Price Performance

WEYS traded down $0.01 on Tuesday, reaching $31.80. 13,460 shares of the company's stock were exchanged, compared to its average volume of 13,737. The stock has a market cap of $303.09 million, a PE ratio of 13.20 and a beta of 0.89. Weyco Group has a twelve month low of $27.25 and a twelve month high of $35.18. The stock's fifty day moving average price is $33.01 and its 200-day moving average price is $31.70.

Weyco Group Dividend Announcement

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

Hedge Funds Weigh In On Weyco Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Weyco Group by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 366,204 shares of the textile maker's stock valued at $11,019,000 after purchasing an additional 2,792 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Weyco Group by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 160,193 shares of the textile maker's stock valued at $5,313,000 after purchasing an additional 2,224 shares during the last quarter. State Street Corp boosted its holdings in 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 last quarter. Bridgeway Capital Management LLC boosted its holdings in Weyco Group by 2.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 100,606 shares of the textile maker's stock valued at $3,078,000 after purchasing an additional 2,226 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Weyco Group by 4.5% in the 4th quarter. Empowered Funds LLC now owns 52,006 shares of the textile maker's stock valued at $1,591,000 after purchasing an additional 2,226 shares during the last quarter. 23.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Weyco Group from a "buy" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy".

Weyco Group Company Profile

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.

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