Weyco Group (NASDAQ:WEYS) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Weyco Group shares moved above their 200-day moving average, trading as high as $40.36 and last changing hands at $39.20 versus a 200-day average of $33.80.
• The stock has seen mixed analyst sentiment, with Wall Street Zen upgrading it to Buy while Weiss Ratings downgraded it to Hold; MarketBeat shows a current consensus rating of Hold.
• Weyco recently posted quarterly EPS of $0.64 and raised its dividend to $0.28 per share, giving it an annualized yield of about 2.9%.

Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $33.80 and traded as high as $40.36. Weyco Group shares last traded at $39.20, with a volume of 15,516 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WEYS shares. Wall Street Zen raised Weyco Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Weiss Ratings lowered Weyco Group from a "buy (b)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold".

Weyco Group Price Performance

The firm's 50-day moving average price is $36.67 and its 200-day moving average price is $33.80. The company has a market cap of $373.65 million, a price-to-earnings ratio of 15.81 and a beta of 0.87.

Weyco Group (NASDAQ:WEYS - Get Free Report) last posted its earnings results on Tuesday, May 5th. The textile maker reported $0.64 earnings per share for the quarter. Weyco Group had a net margin of 8.57% and a return on equity of 9.63%. The business had revenue of $68.00 million for the quarter.

Weyco Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, May 19th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.9%. This is a boost from Weyco Group's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, May 19th. Weyco Group's dividend payout ratio is 45.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings in Weyco Group by 44.7% in the 4th quarter. Wells Fargo & Company MN now owns 6,840 shares of the textile maker's stock worth $209,000 after acquiring an additional 2,113 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Weyco Group during the fourth quarter valued at approximately $72,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Weyco Group during the fourth quarter valued at approximately $55,000. BNP Paribas Financial Markets lifted its position in shares of Weyco Group by 107.1% during the third quarter. BNP Paribas Financial Markets now owns 1,609 shares of the textile maker's stock worth $48,000 after purchasing an additional 832 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Weyco Group by 7.8% during the third quarter. Russell Investments Group Ltd. now owns 7,802 shares of the textile maker's stock worth $235,000 after purchasing an additional 563 shares in the last quarter. Institutional investors and hedge funds own 23.59% of the company's stock.

Weyco Group Company Profile

Weyco Group, Inc is a publicly traded footwear company NASDAQ: WEYS based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men's dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.

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