Weyco Group (NASDAQ:WEYS) Stock Price Crosses Above 200-Day Moving Average of $25.82

Weyco Group, Inc. Shares (NASDAQ: WEYSGet an assessment) broke above its 200-day moving average during Thursday’s session. The stock has a 200-day moving average of $25.82 and is trading as low as $27.48. Weyco Group shares last traded at $27.48, with volume at 6,913 shares.

Wall Street analysts predict growth

Separately, StockNews.com downgraded Weyco Group shares from a “buy” to a “hold” rating in a Thursday, Aug. 4 research note.

Weyco Group Price Performance

The company’s 50-day moving average is $27.14 and its 200-day moving average is $25.82. The company has a market capitalization of $265.59 million, a PE ratio of 11.08 and a beta of 0.57.

Weyco Group (NASDAQ: WEYSGet an assessment) last reported results on Tuesday, August 2. The textile maker reported EPS of $0.47 for the quarter. Weyco Group achieved a net margin of 7.51% and a return on equity of 12.01%. The company posted revenue of $74.36 million for the quarter.

Weyco Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Investors of record on Friday August 26 will receive a dividend of $0.24. This represents an annualized dividend of $0.96 and a dividend yield of 3.49%. The ex-dividend date is Thursday, August 25. The Weyco group’s payout ratio is 38.71%.

Insider buying and selling

In related news, VP Dustin Combs sold 974 Weyco Group shares in a trade on Wednesday, June 15. The shares were sold at an average price of $29.70, for a total value of $28,927.80. Following the transaction, the vice president now directly owns 1,676 shares of the company, valued at $49,777.20. The sale was disclosed in a legal filing with the SEC, accessible via this link. 42.10% of the shares are held by insiders.

Institutional entries and exits

A number of hedge funds have recently increased or reduced their holdings in the stock. Rhumbline Advisers bought a new position in Weyco Group during Q2 worth $220,000. O Shaughnessy Asset Management LLC bought a new position in Weyco Group during Q2 worth $417,000. JPMorgan Chase & Co. increased its position in Weyco Group by 157,750.0% during the second quarter. JPMorgan Chase & Co. now owns 3,157 shares of the textile maker valued at $77,000 after buying 3,155 additional shares during the period. Lazard Asset Management LLC bought a new position in Weyco Group during Q2 worth $55,000. Finally, Russell Investments Group Ltd. increased its position in Weyco Group by 97.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 44,385 shares of the textile maker valued at $1,084,000 after purchasing an additional 21,921 shares during the period. 18.38% of the shares are held by hedge funds and other institutional investors.

Weyco Group Company Profile

(Get an assessment)

Weyco Group, Inc designs and distributes shoes for men, women and children. It operates through two segments, North America Wholesale Operations and North America Retail Operations. The company offers mid-priced leather dress shoes and casual shoes made of synthetic materials or leather; and outdoor boots, shoes and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS and Rafters brands.

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