Weyco Group (NASDAQ:WEYS) Share Price Passes Below 200 Day Moving Average - Here's What Happened

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) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 $289.06 million, a PE ratio of 11.26 and a beta of 1.02. The stock has a 50-day moving average price of $31.39 and a 200-day moving average price of $31.19.

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

Weyco Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, August 18th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend 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

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its position in shares of Weyco Group by 172.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,790 shares of the textile maker's stock worth $59,000 after purchasing an additional 1,133 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of 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 purchasing an additional 775 shares during the last quarter. Voya Investment Management LLC bought a new position in shares of Weyco Group during the first quarter worth about $201,000. Arrowstreet Capital Limited Partnership acquired a new position in Weyco Group in the second quarter worth $204,000. Finally, IFG Advisory LLC acquired a new position in Weyco Group in the second quarter worth $219,000. Institutional investors own 23.59% of the company's stock.

Weyco Group Company Profile

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.