Key Points
- Insider sale: Damian Walton sold 1,100 Weyco Group shares for $47,300 at an average price of $43.00, reducing his direct ownership by 14.32% to 6,580 shares.
- Financial performance and dividend: Weyco reported quarterly earnings of $1.39 per share on $62.22 million in revenue and announced a quarterly dividend of $0.28, representing a 2.4% yield.
- Market outlook: Weyco shares opened at $46.88, near their 12-month high of $48.67, while analysts maintain a consensus “Hold” rating. Institutional investors own 23.59% of the company.
Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) insider Damian Walton sold 1,100 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $43.00, for a total value of $47,300.00. Following the sale, the insider directly owned 6,580 shares of the company's stock, valued at approximately $282,940. This represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Weyco Group Stock Up 1.4%
Shares of Weyco Group stock opened at $46.88 on Wednesday. The stock's fifty day moving average is $38.75 and its 200-day moving average is $35.04. The firm has a market capitalization of $446.77 million, a PE ratio of 12.91 and a beta of 0.88. Weyco Group, Inc. has a 12-month low of $27.25 and a 12-month high of $48.67.
Weyco Group (NASDAQ:WEYS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The textile maker reported $1.39 earnings per share for the quarter. The business had revenue of $62.22 million during the quarter. Weyco Group had a return on equity of 14.18% and a net margin of 12.39%.
Weyco Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, August 18th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 18th. Weyco Group's dividend payout ratio (DPR) is presently 30.85%.
Institutional Trading of Weyco Group
Institutional investors have recently bought and sold shares of the company. Deutsche Bank AG acquired a new position in Weyco Group in the 2nd quarter worth about $235,000. Bank of New York Mellon Corp acquired a new stake in shares of Weyco Group during the 2nd quarter valued at about $2,952,000. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Weyco Group during the 4th quarter valued at about $30,000. Los Angeles Capital Management LLC bought a new stake in shares of Weyco Group in the 4th quarter valued at approximately $72,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Weyco Group in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 23.59% of the company's stock.
Wall Street Analysts Forecast Growth
WEYS has been the subject of several research analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of Weyco Group in a research report on Friday. Wall Street Zen raised shares of Weyco Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".
Read Our Latest Stock Report on Weyco Group
Weyco Group Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
