Weyco Group (NASDAQ:WEYS) Shares Cross Below Two Hundred Day Moving Average - What's Next?

Key Points

• Weyco Group's shares fell below their 200-day moving average, indicating potential volatility, with the stock trading at $30.45 on Tuesday.
• The company recently announced a quarterly dividend of $0.27 per share, representing a 3.5% annual yield.
• Institutional investors have increased their holdings in Weyco Group, with notable boosts from firms like JPMorgan Chase & Co. and Wells Fargo & Company MN.

Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.39 and traded as low as $30.30. Weyco Group shares last traded at $30.45, with a volume of 5,802 shares traded.

Weyco Group Price Performance

The firm has a market capitalization of $290.49 million, a P/E ratio of 11.32 and a beta of 0.98. The stock's 50-day simple moving average is $31.41 and its two-hundred day simple moving average is $31.39.

Weyco Group (NASDAQ:WEYS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The textile maker reported $0.24 earnings per share for the quarter. The business had revenue of $58.22 million during the quarter. Weyco Group had a net margin of 9.20% and a return on equity of 10.34%.

Weyco Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, August 18th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, August 18th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.5%. Weyco Group's dividend payout ratio is currently 40.15%.

Hedge Funds Weigh In On Weyco Group

A number of hedge funds and other institutional investors have recently modified their holdings of WEYS. JPMorgan Chase & Co. lifted its position in Weyco Group by 60.3% during the fourth quarter. JPMorgan Chase & Co. now owns 19,099 shares of the textile maker's stock valued at $717,000 after purchasing an additional 7,187 shares during the last quarter. Wells Fargo & Company MN lifted its position 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 valued at $152,000 after purchasing an additional 775 shares during the last quarter. Barclays PLC lifted its position in Weyco Group by 13.8% during the fourth quarter. Barclays PLC now owns 9,106 shares of the textile maker's stock valued at $342,000 after purchasing an additional 1,103 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Weyco Group by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 576,684 shares of the textile maker's stock valued at $21,654,000 after purchasing an additional 9,208 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Weyco Group by 0.8% during the fourth 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. Institutional investors 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.

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