Weyco Group (WEYS) Issues Quarterly Earnings Results

Weyco Group (NASDAQ:WEYS) issued its quarterly earnings data on Tuesday. The textile maker reported $0.60 earnings per share for the quarter, Morningstar.com reports. The firm had revenue of $78.38 million for the quarter. Weyco Group had a net margin of 6.13% and a return on equity of 7.87%.

Shares of WEYS stock traded down $0.02 during trading hours on Wednesday, reaching $32.81. 6,134 shares of the company were exchanged, compared to its average volume of 18,621. Weyco Group has a fifty-two week low of $27.02 and a fifty-two week high of $39.93. The firm has a market capitalization of $323.90 million, a price-to-earnings ratio of 20.31 and a beta of 0.53.

WEYS has been the topic of several research analyst reports. BidaskClub cut shares of Weyco Group from a “hold” rating to a “sell” rating in a research note on Friday, September 21st. ValuEngine lowered shares of Weyco Group from a “buy” rating to a “hold” rating in a research report on Tuesday.

In other news, VP Michael Bernsteen sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $35.58, for a total transaction of $39,138.00. Following the transaction, the vice president now directly owns 8,056 shares in the company, valued at $286,632.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Judy Anderson sold 1,578 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $37.60, for a total transaction of $59,332.80. Following the transaction, the vice president now owns 6,250 shares in the company, valued at $235,000. The disclosure for this sale can be found here. Insiders have sold 10,078 shares of company stock worth $383,747 over the last quarter. 43.60% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in WEYS. Hartford Investment Management Co. acquired a new position in Weyco Group in the second quarter valued at approximately $233,000. First Trust Advisors LP acquired a new position in Weyco Group in the third quarter valued at approximately $337,000. Spark Investment Management LLC acquired a new position in Weyco Group in the second quarter valued at approximately $414,000. Schwab Charles Investment Management Inc. lifted its holdings in Weyco Group by 21.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 36,504 shares of the textile maker’s stock valued at $1,329,000 after buying an additional 6,442 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Weyco Group by 30.2% in the second quarter. Renaissance Technologies LLC now owns 64,699 shares of the textile maker’s stock valued at $2,355,000 after buying an additional 14,999 shares during the period. Institutional investors own 30.87% of the company’s stock.

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Weyco Group Company 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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Earnings History for Weyco Group (NASDAQ:WEYS)

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