Weyco Group (NASDAQ:WEYS) Share Price Crosses Below 200-Day Moving Average - What's Next?

Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $33.67 and traded as low as $32.49. Weyco Group shares last traded at $33.54, with a volume of 10,588 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Weyco Group from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, April 9th.

Weyco Group Stock Down 0.9%

The company has a fifty day moving average of $30.10 and a two-hundred day moving average of $33.52. The stock has a market capitalization of $298.77 million, a price-to-earnings ratio of 10.33 and a beta of 0.91.

Weyco Group (NASDAQ:WEYS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The textile maker reported $0.57 earnings per share for the quarter. Weyco Group had a return on equity of 11.52% and a net margin of 9.94%. The firm had revenue of $68.03 million during the quarter.

Weyco Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 16th. This is an increase from Weyco Group's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 3.46%. Weyco Group's dividend payout ratio (DPR) is currently 35.53%.

Institutional Investors Weigh In On Weyco Group

Several hedge funds have recently modified their holdings of WEYS. Nisa Investment Advisors LLC lifted its holdings in Weyco Group by 394.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,507 shares of the textile maker's stock valued at $103,000 after acquiring an additional 2,000 shares during the period. Wells Fargo & Company MN lifted its holdings in Weyco Group by 23.7% in the fourth quarter. Wells Fargo & Company MN now owns 4,040 shares of the textile maker's stock valued at $152,000 after acquiring an additional 775 shares during the period. Martingale Asset Management L P acquired a new stake in Weyco Group in the fourth quarter valued at $218,000. Nuveen LLC acquired a new stake in Weyco Group in the first quarter valued at $277,000. Finally, LPL Financial LLC acquired a new stake in Weyco Group in the fourth quarter valued at $324,000. 23.59% of the stock is owned by institutional investors and hedge funds.

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.