State Street Corp lifted its holdings in shares of Weyco Group, Inc. (NASDAQ:WEYS) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,080 shares of the textile maker’s stock after purchasing an additional 6,676 shares during the period. State Street Corp owned about 1.29% of Weyco Group worth $3,682,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in WEYS. Ameriprise Financial Inc. purchased a new stake in Weyco Group in the 2nd quarter worth about $200,000. California Public Employees Retirement System purchased a new position in Weyco Group during the 1st quarter valued at about $202,000. Alliancebernstein L.P. purchased a new position in Weyco Group during the 2nd quarter valued at about $212,000. Janney Montgomery Scott LLC purchased a new position in Weyco Group during the 2nd quarter valued at about $231,000. Finally, New York State Common Retirement Fund grew its holdings in Weyco Group by 41.6% during the 2nd quarter. New York State Common Retirement Fund now owns 8,500 shares of the textile maker’s stock valued at $237,000 after buying an additional 2,499 shares in the last quarter. Institutional investors own 32.40% of the company’s stock.
Shares of Weyco Group, Inc. (WEYS) opened at $27.61 on Friday. The stock has a market capitalization of $287.21, a PE ratio of 20.27 and a beta of 0.67. Weyco Group, Inc. has a 12-month low of $23.75 and a 12-month high of $32.30.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.88 dividend on an annualized basis and a yield of 3.19%. Weyco Group’s payout ratio is 55.35%.
In related news, VP Michael Bernsteen sold 4,344 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $28.00, for a total value of $121,632.00. Following the completion of the sale, the vice president now owns 3,765 shares in the company, valued at approximately $105,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John W. Florsheim sold 30,052 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $28.00, for a total value of $841,456.00. Following the completion of the sale, the chief operating officer now owns 278,764 shares of the company’s stock, valued at approximately $7,805,392. The disclosure for this sale can be found here. Insiders sold a total of 36,990 shares of company stock valued at $1,035,720 in the last 90 days. 42.81% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on WEYS shares. BidaskClub raised Weyco Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. TheStreet raised Weyco Group from a “c+” rating to a “b-” rating in a report on Thursday, November 16th.
Weyco Group Profile
Weyco Group, Inc is engaged in the design and distribution of footwear. The Company designs and markets footwear for men, women and children. The Company operates through two segments: the North American wholesale segment (wholesale) and the North American retail segment (retail). The Company also has other wholesale and retail businesses overseas, which include its businesses in Australia, South Africa and Asia Pacific (collectively known as Florsheim Australia), and its wholesale and retail businesses in Europe (Florsheim Europe).
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