Baird Financial Group Inc. increased its holdings in shares of Weyco Group, Inc. (NASDAQ:WEYS) by 150.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,551 shares of the textile maker’s stock after buying an additional 66,355 shares during the quarter. Baird Financial Group Inc. owned 1.08% of Weyco Group worth $4,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. purchased a new stake in Weyco Group during the 1st quarter valued at about $210,000. Hartford Investment Management Co. purchased a new stake in Weyco Group during the 2nd quarter valued at about $233,000. Schwab Charles Investment Management Inc. grew its stake in Weyco Group by 21.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 36,504 shares of the textile maker’s stock valued at $1,329,000 after purchasing an additional 6,442 shares during the last quarter. BlackRock Inc. grew its stake in Weyco Group by 2.0% during the 2nd quarter. BlackRock Inc. now owns 433,871 shares of the textile maker’s stock valued at $15,792,000 after purchasing an additional 8,679 shares during the last quarter. Finally, Spark Investment Management LLC purchased a new stake in Weyco Group during the 2nd quarter valued at about $414,000. Hedge funds and other institutional investors own 30.84% of the company’s stock.
Several analysts have weighed in on WEYS shares. BidaskClub upgraded Weyco Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 23rd. ValuEngine downgraded Weyco Group from a “buy” rating to a “hold” rating in a research note on Saturday.
Weyco Group stock traded down $0.63 during trading hours on Friday, hitting $31.24. 16,993 shares of the stock traded hands, compared to its average volume of 18,222. The company has a market cap of $357.43 million, a PE ratio of 22.41 and a beta of 0.40. Weyco Group, Inc. has a 1 year low of $27.00 and a 1 year high of $39.93.
Weyco Group (NASDAQ:WEYS) last issued its quarterly earnings data on Tuesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter. The business had revenue of $60.89 million during the quarter. Weyco Group had a return on equity of 7.87% and a net margin of 6.13%.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Wednesday, August 29th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.94%.
In other news, VP Judy Anderson sold 1,578 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $37.60, for a total value of $59,332.80. Following the completion of the transaction, the vice president now owns 6,250 shares of the company’s stock, valued at approximately $235,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John Wittkowske sold 4,000 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $39.08, for a total value of $156,320.00. Following the completion of the transaction, the chief financial officer now directly owns 98,610 shares of the company’s stock, valued at approximately $3,853,678.80. The disclosure for this sale can be found here. In the last three months, insiders sold 10,078 shares of company stock valued at $383,747. Insiders own 43.60% of the company’s stock.
Weyco Group Profile
Weyco Group, Inc, together with its subsidiaries, designs and distributes footwear. The company operates through two segments, North American Wholesale and North American Retail. It engages in the design and marketing footwear for men, women, and children under the Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Umi brand names.
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