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

Weyco Group, Inc. (NASDAQ:WEYS)’s share price passed 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 changing hands.

Analyst Ratings Changes

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 Price Performance

The firm’s 50-day moving average price is $36.14 and its 200-day moving average price is $34.09. The stock 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. Shareholders 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 yield of 25.40%. This is a boost from Weyco Group’s previous quarterly dividend of $0.26. Weyco Group’s payout ratio is presently 34.44%.

Insider Transactions at Weyco Group

In related news, insider Damian Walton sold 1,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $38.21, for a total value of $38,210.00. Following the completion of the transaction, the insider now owns 6,030 shares of the company’s stock, valued at approximately $230,406.30. This trade represents a 14.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Allison Woss sold 1,463 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 of the company’s stock, valued at $288,225.63. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,685 shares of company stock valued at $214,730. 38.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WEYS. BNP Paribas Financial Markets lifted its holdings in shares of Weyco Group by 34.1% in 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 last quarter. Barclays PLC raised its position 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 purchasing an additional 5,803 shares during the period. Ritholtz Wealth Management lifted its stake in Weyco Group by 23.4% in the third quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock worth $340,000 after purchasing an additional 1,893 shares during the last quarter. 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. Finally, First Business Financial Services Inc. grew its stake 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 valued at $446,000 after buying an additional 1,000 shares during the last quarter. 23.59% of the stock is owned by hedge funds and other institutional investors.

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.