Weyco Group, Inc. (NASDAQ:WEYS) Short Interest Update

Weyco Group, Inc. (NASDAQ:WEYS) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 52,200 shares, a growth of 41.5% from the December 15th total of 36,900 shares. Based on an average daily volume of 16,400 shares, the days-to-cover ratio is presently 3.2 days. Currently, 0.9% of the shares of the stock are short sold.

Insider Buying and Selling

In other news, insider Damian Walton sold 1,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $38.21, for a total value of $38,210.00. Following the completion of the sale, the insider now owns 6,030 shares in the company, valued at $230,406.30. This represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Judy Anderson sold 2,893 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.98, for a total value of $109,876.14. Following the transaction, the chief financial officer now directly owns 13,100 shares of the company’s stock, valued at $497,538. This represents a 18.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,685 shares of company stock valued at $214,730 over the last 90 days. 38.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Weyco Group

A number of institutional investors have recently bought and sold shares of WEYS. Ritholtz Wealth Management lifted its stake in Weyco Group by 4.8% during the fourth quarter. Ritholtz Wealth Management now owns 10,460 shares of the textile maker’s stock valued at $393,000 after buying an additional 480 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Weyco Group by 72.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,912 shares of the textile maker’s stock valued at $405,000 after acquiring an additional 4,990 shares in the last quarter. Barclays PLC boosted its stake 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. Geode Capital Management LLC grew its position in Weyco Group by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 154,827 shares of the textile maker’s stock worth $5,271,000 after purchasing an additional 5,307 shares in the last quarter. Finally, State Street Corp raised its stake in Weyco Group by 0.4% during the 3rd quarter. State Street Corp now owns 90,832 shares of the textile maker’s stock valued at $3,092,000 after purchasing an additional 375 shares during the period. Hedge funds and other institutional investors own 23.59% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Weyco Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th.

Weyco Group Stock Performance

Shares of NASDAQ:WEYS opened at $35.59 on Thursday. Weyco Group has a 1-year low of $27.05 and a 1-year high of $41.05. The company has a 50 day moving average price of $36.14 and a 200 day moving average price of $34.09. The stock has a market capitalization of $340.20 million, a price-to-earnings ratio of 11.78 and a beta of 0.71.

Weyco Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $2.26 per share. This represents a $9.04 annualized dividend and a dividend yield of 25.40%. This is an increase from Weyco Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, November 18th. Weyco Group’s dividend payout ratio is currently 34.44%.

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.