Weyco Group (NASDAQ:WEYS) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Weyco Group (NASDAQ:WEYS - Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday.

Weyco Group Trading Down 1.6 %

WEYS stock traded down $0.46 during midday trading on Tuesday, reaching $28.88. 46,643 shares of the company's stock traded hands, compared to its average volume of 12,342. Weyco Group has a 52-week low of $27.05 and a 52-week high of $41.05. The stock has a market cap of $276.06 million, a P/E ratio of 9.56 and a beta of 0.71. The stock's 50-day moving average is $34.24 and its 200 day moving average is $34.75.

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

Weyco Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Friday, March 14th. Weyco Group's dividend payout ratio is presently 32.91%.

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Hedge Funds Weigh In On Weyco Group

A number of institutional investors and hedge funds have recently modified their holdings of WEYS. Allspring Global Investments Holdings LLC boosted its stake in shares of Weyco Group by 22,965.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 16,146 shares of the textile maker's stock worth $606,000 after purchasing an additional 16,076 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 4,990 shares during the period. Barclays PLC boosted 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 valued at $273,000 after buying an additional 5,803 shares during the period. Empowered Funds LLC grew its stake in shares of Weyco Group by 10.7% during the fourth quarter. Empowered Funds LLC now owns 39,890 shares of the textile maker's stock valued at $1,498,000 after buying an additional 3,848 shares during the last quarter. Finally, Annex Advisory Services LLC raised its holdings in shares of Weyco Group by 36.7% in the fourth quarter. Annex Advisory Services LLC now owns 34,428 shares of the textile maker's stock worth $1,293,000 after buying an additional 9,245 shares during the period. Hedge funds and other 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.