Weyco Group (NASDAQ:WEYS) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Weyco Group, Inc. (NASDAQ:WEYS) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-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.

Analysts Set New Price Targets

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

Weyco Group Stock Performance

The firm’s fifty day moving average price is $36.14 and its 200 day moving average price is $34.09. The firm has a market cap of $340.20 million, a P/E ratio of 11.78 and a beta of 0.71.

Weyco Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, November 18th were issued a $2.26 dividend. The ex-dividend date of this dividend was Monday, November 18th. This is an increase from Weyco Group’s previous quarterly dividend of $0.26. This represents a $9.04 dividend on an annualized basis and a dividend yield of 25.40%. Weyco Group’s dividend payout ratio (DPR) is currently 34.44%.

Insiders Place Their Bets

In other Weyco Group news, VP Allison Woss sold 1,463 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $37.81, for a total value of $55,316.03. Following the completion of the sale, the vice president now directly owns 7,623 shares in the company, valued at approximately $288,225.63. This trade represents a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Damian Walton sold 1,000 shares of Weyco Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $38.21, for a total transaction of $38,210.00. Following the completion of the sale, the insider now owns 6,030 shares of the company’s stock, valued at $230,406.30. This trade represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,685 shares of company stock worth $214,730. 38.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Weyco Group

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in Weyco Group by 34.1% during the 3rd 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 during the period. Barclays PLC increased its holdings in Weyco Group by 263.8% in the 3rd quarter. Barclays PLC now owns 8,003 shares of the textile maker’s stock worth $273,000 after buying an additional 5,803 shares during the period. Ritholtz Wealth Management raised its position in Weyco Group by 23.4% during the 3rd quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock worth $340,000 after buying an additional 1,893 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Weyco Group by 72.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,912 shares of the textile maker’s stock valued at $405,000 after acquiring an additional 4,990 shares during the last quarter. Finally, First Business Financial Services Inc. raised its holdings in shares of Weyco Group by 8.3% during the third quarter. First Business Financial Services Inc. now owns 13,096 shares of the textile maker’s stock worth $446,000 after purchasing an additional 1,000 shares during the last quarter. 23.59% of the stock is owned by institutional investors and hedge funds.

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.