Weyco Group (NASDAQ:WEYS) Shares Cross Below 200-Day Moving Average - Time to Sell?

Shares of Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.45 and traded as low as $31.43. Weyco Group shares last traded at $31.86, with a volume of 11,981 shares changing hands.

Wall Street Analysts Forecast Growth

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

Weyco Group Price Performance

The stock has a market cap of $305.22 million, a P/E ratio of 10.48 and a beta of 0.92. The firm's fifty day moving average price is $32.16 and its two-hundred day moving average price is $32.45.

Weyco Group (NASDAQ:WEYS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The textile maker reported $0.57 earnings per share for the quarter. The company had revenue of $68.03 million during the quarter. Weyco Group had a net margin of 10.19% and a return on equity of 11.65%.

Weyco Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, May 16th. This is an increase from Weyco Group's previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.39%. Weyco Group's dividend payout ratio (DPR) is currently 35.53%.

Hedge Funds Weigh In On Weyco Group

Large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in shares of Weyco Group by 0.8% in the 4th quarter. Northern Trust Corp now owns 61,123 shares of the textile maker's stock valued at $2,295,000 after purchasing an additional 463 shares during the last quarter. Wells Fargo & Company MN increased its stake in Weyco Group by 23.7% during the fourth quarter. Wells Fargo & Company MN now owns 4,040 shares of the textile maker's stock worth $152,000 after acquiring an additional 775 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Weyco Group by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,059 shares of the textile maker's stock valued at $550,000 after purchasing an additional 903 shares during the period. Barclays PLC raised its holdings in Weyco Group by 13.8% in the fourth quarter. Barclays PLC now owns 9,106 shares of the textile maker's stock valued at $342,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Weyco Group by 12.3% during the fourth quarter. Bank of America Corp DE now owns 11,980 shares of the textile maker's stock worth $450,000 after purchasing an additional 1,313 shares during the period. 23.59% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.