Weyco Group (NASDAQ:WEYS) Share Price Crosses Below Two Hundred Day Moving Average of $26.18

Weyco Group, Inc. (NASDAQ:WEYSGet Rating) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $26.18 and traded as low as $21.84. Weyco Group shares last traded at $22.20, with a volume of 8,861 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered Weyco Group from a “buy” rating to a “hold” rating in a report on Thursday, August 4th.

Weyco Group Trading Down 1.7 %

The firm has a market capitalization of $214.56 million, a P/E ratio of 8.95 and a beta of 0.57. The firm has a 50-day moving average of $26.01 and a two-hundred day moving average of $26.18.

Weyco Group (NASDAQ:WEYSGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The textile maker reported $0.47 earnings per share for the quarter. Weyco Group had a return on equity of 12.01% and a net margin of 7.51%. The business had revenue of $74.36 million during the quarter.

Weyco Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, August 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, August 25th. This represents a $0.96 annualized dividend and a dividend yield of 4.32%. Weyco Group’s dividend payout ratio is currently 38.71%.

Institutional Trading of Weyco Group

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Weyco Group by 4.6% in the first quarter. Vanguard Group Inc. now owns 252,043 shares of the textile maker’s stock valued at $6,231,000 after purchasing an additional 11,049 shares during the last quarter. State Street Corp raised its position in Weyco Group by 160.6% in the second quarter. State Street Corp now owns 66,830 shares of the textile maker’s stock valued at $1,634,000 after purchasing an additional 41,185 shares during the last quarter. Northern Trust Corp raised its position in Weyco Group by 182.9% in the second quarter. Northern Trust Corp now owns 60,646 shares of the textile maker’s stock valued at $1,482,000 after purchasing an additional 39,206 shares during the last quarter. North Star Investment Management Corp. raised its position in Weyco Group by 45.4% in the second quarter. North Star Investment Management Corp. now owns 57,675 shares of the textile maker’s stock valued at $1,410,000 after purchasing an additional 18,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Weyco Group by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 49,808 shares of the textile maker’s stock valued at $1,231,000 after purchasing an additional 591 shares during the last quarter. 23.41% of the stock is currently owned by institutional investors.

About Weyco Group

(Get Rating)

Weyco Group, Inc designs and distributes footwear for men, women, and children. It operates through 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 or leather; and outdoor boots, shoes, and sandals under the Florsheim, Nunn Bush, Stacy Adams, BOGS, and Rafters brand names.

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