Weyco Group (NASDAQ:WEYS) Downgraded by StockNews.com to “Buy”

Weyco Group (NASDAQ:WEYS) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Weyco Group Stock Down 6.2 %

Shares of NASDAQ WEYS traded down $2.54 during midday trading on Thursday, hitting $38.50. The company had a trading volume of 29,898 shares, compared to its average volume of 11,156. Weyco Group has a twelve month low of $24.47 and a twelve month high of $41.05. The business has a 50-day simple moving average of $33.84 and a two-hundred day simple moving average of $31.86. The firm has a market capitalization of $365.37 million, a price-to-earnings ratio of 12.18 and a beta of 0.71.

Weyco Group (NASDAQ:WEYS) last announced its earnings results on Tuesday, August 6th. The textile maker reported $0.59 earnings per share (EPS) for the quarter. The company had revenue of $63.93 million during the quarter. Weyco Group had a net margin of 10.04% and a return on equity of 12.31%.

Insider Activity at Weyco Group

In other Weyco Group news, insider Damian Walton sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $32.50, for a total transaction of $43,550.00. Following the completion of the sale, the insider now directly owns 7,030 shares in the company, valued at $228,475. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 3,078 shares of company stock worth $102,351. 38.90% of the stock is owned by company insiders.

Institutional Trading of Weyco Group

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Weyco Group by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 558,954 shares of the textile maker’s stock valued at $16,947,000 after purchasing an additional 8,930 shares during the last quarter. Vanguard Group Inc. increased its stake in Weyco Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 339,323 shares of the textile maker’s stock valued at $10,818,000 after purchasing an additional 2,799 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Weyco Group by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 89,620 shares of the textile maker’s stock valued at $2,717,000 after purchasing an additional 2,190 shares during the last quarter. Empowered Funds LLC increased its stake in Weyco Group by 5.1% during the third quarter. Empowered Funds LLC now owns 36,042 shares of the textile maker’s stock valued at $1,227,000 after purchasing an additional 1,742 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Weyco Group by 4.9% during the second quarter. Renaissance Technologies LLC now owns 27,726 shares of the textile maker’s stock valued at $841,000 after purchasing an additional 1,300 shares during the last quarter. 23.59% of the stock is owned by institutional investors and hedge funds.

About Weyco Group

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.