Bank of New York Mellon Corp Sells 21,263 Shares of Weyco Group, Inc. (NASDAQ:WEYS)

Bank of New York Mellon Corp decreased its stake in Weyco Group, Inc. (NASDAQ:WEYS - Free Report) by 24.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,933 shares of the textile maker's stock after selling 21,263 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.68% of Weyco Group worth $2,438,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC raised its position in shares of Weyco Group by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 36,042 shares of the textile maker's stock valued at $1,227,000 after purchasing an additional 1,742 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Weyco Group by 34.1% in the third quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker's stock valued at $68,000 after acquiring an additional 511 shares in the last quarter. State Street Corp boosted its stake in shares of Weyco Group by 0.4% in the third quarter. State Street Corp now owns 90,832 shares of the textile maker's stock worth $3,092,000 after acquiring an additional 375 shares during the period. Barclays PLC grew its position in shares of Weyco Group by 263.8% during the third quarter. Barclays PLC now owns 8,003 shares of the textile maker's stock worth $273,000 after purchasing an additional 5,803 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Weyco Group by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 154,827 shares of the textile maker's stock valued at $5,271,000 after purchasing an additional 5,307 shares during the period. 23.59% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Weyco Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th.

Weyco Group Price Performance

Shares of Weyco Group stock traded up $1.55 during trading on Monday, reaching $30.43. 8,423 shares of the stock traded hands, compared to its average volume of 12,326. The company has a market capitalization of $290.88 million, a price-to-earnings ratio of 10.08 and a beta of 0.71. Weyco Group, Inc. has a 52-week low of $27.05 and a 52-week high of $41.05. The business has a fifty day simple moving average of $34.24 and a two-hundred day simple moving average of $34.76.

Weyco Group (NASDAQ:WEYS - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The textile maker reported $1.04 earnings per share (EPS) for the quarter. The business had revenue of $80.47 million for the quarter. Weyco Group had a return on equity of 11.52% and a net margin of 9.94%.

Weyco Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.04 annualized dividend and a yield of 3.42%. Weyco Group's dividend payout ratio (DPR) is currently 32.91%.

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.