Weyco Group (NASDAQ:WEYS) Stock Crosses Below 200-Day Moving Average - Here's Why

Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $34.03 and traded as low as $33.92. Weyco Group shares last traded at $34.34, with a volume of 11,875 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Weyco Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 15th.

Weyco Group Stock Up 0.2 %

The firm has a market capitalization of $329.02 million, a P/E ratio of 11.40 and a beta of 0.71. The business's 50 day moving average is $36.25 and its two-hundred day moving average is $34.05.

Weyco Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, November 18th were paid a $2.26 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $9.04 annualized dividend and a dividend yield of 26.26%. This is a boost from Weyco Group's previous quarterly dividend of $0.26. Weyco Group's payout ratio is currently 34.44%.

Insider Activity at Weyco Group

In other Weyco Group news, CFO Judy Anderson sold 2,893 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.98, for a total value of $109,876.14. Following the completion of the transaction, the chief financial officer now directly owns 13,100 shares in the company, valued at $497,538. This trade represents a 18.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Allison Woss sold 1,463 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $37.81, for a total transaction of $55,316.03. Following the completion of the transaction, the vice president now directly owns 7,623 shares of the company's stock, valued at $288,225.63. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,685 shares of company stock valued at $214,730 over the last ninety days. Insiders own 38.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Weyco Group by 72.1% during the third quarter. JPMorgan Chase & Co. now owns 11,912 shares of the textile maker's stock valued at $405,000 after purchasing an additional 4,990 shares in the last quarter. Barclays PLC boosted its stake in shares of Weyco Group by 263.8% during the 3rd quarter. Barclays PLC now owns 8,003 shares of the textile maker's stock valued at $273,000 after buying an additional 5,803 shares during the period. Geode Capital Management LLC increased its stake in shares of Weyco Group by 3.5% in the third quarter. Geode Capital Management LLC now owns 154,827 shares of the textile maker's stock worth $5,271,000 after acquiring an additional 5,307 shares during the last quarter. State Street Corp increased 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 last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Weyco Group by 34.1% during the third quarter. BNP Paribas Financial Markets now owns 2,010 shares of the textile maker's stock worth $68,000 after acquiring an additional 511 shares in the last quarter. 23.59% of the stock is owned by institutional investors and hedge funds.

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.