Weyco Group (NASDAQ:WEYS) Stock Crosses Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Weyco Group's stock price has fallen below its 200-day moving average, indicating potential concerns among investors.
• Wall Street Zen downgraded Weyco Group from a "strong-buy" to a "buy" rating, reflecting a shift in analyst sentiment.
• The company recently increased its quarterly dividend to $0.27, representing a 3.41% dividend yield, demonstrating continued commitment to returning value to shareholders.

Shares of Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.26 and traded as low as $31.44. Weyco Group shares last traded at $31.68, with a volume of 11,189 shares traded.

Wall Street Analyst Weigh In

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

Weyco Group Price Performance

The firm has a market cap of $303.97 million, a P/E ratio of 10.44 and a beta of 0.92. The business's 50-day moving average is $32.04 and its two-hundred day moving average is $32.20.

Weyco Group (NASDAQ:WEYS - Get Free Report) last released its earnings results on Tuesday, May 6th. The textile maker reported $0.57 earnings per share for the quarter. The business 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 announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 16th were given a $0.27 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.08 dividend on an annualized basis and a yield of 3.40%. This is an increase from Weyco Group's previous quarterly dividend of $0.26. Weyco Group's dividend payout ratio (DPR) is 35.53%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Total Wealth Planning & Management Inc. bought a new stake in Weyco Group during the second quarter worth $822,000. Strs Ohio bought a new position in shares of Weyco Group in the first quarter valued at about $466,000. Ritholtz Wealth Management bought a new position in shares of Weyco Group in the second quarter valued at about $398,000. Dimensional Fund Advisors LP raised its position in shares of Weyco Group by 1.6% in 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 period. Finally, Nuveen LLC bought a new position in shares of Weyco Group in the first quarter valued at about $277,000. 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.