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

Weyco Group, Inc. (NASDAQ:WEYS) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 40,300 shares, a decrease of 21.3% from the November 15th total of 51,200 shares. Based on an average daily trading volume, of 13,100 shares, the days-to-cover ratio is presently 3.1 days. Approximately 0.7% of the shares of the company are short sold.

Analyst Ratings Changes

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

Weyco Group Stock Up 1.7 %

NASDAQ:WEYS opened at $36.10 on Monday. Weyco Group has a 1-year low of $27.05 and a 1-year high of $41.05. The firm has a market capitalization of $345.12 million, a price-to-earnings ratio of 11.95 and a beta of 0.73. The stock has a fifty day simple moving average of $35.20 and a 200 day simple moving average of $33.11.

Weyco Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, November 18th will be paid a $2.26 dividend. This is a positive change from Weyco Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.04 dividend on an annualized basis and a yield of 25.04%. Weyco Group’s dividend payout ratio (DPR) is currently 34.44%.

Insider Buying and Selling

In other Weyco Group news, CFO Judy Anderson sold 2,893 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.98, for a total transaction of $109,876.14. Following the sale, the chief financial officer now directly owns 13,100 shares in the company, valued at approximately $497,538. The trade was a 18.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Allison Woss sold 1,463 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $37.81, for a total transaction of $55,316.03. Following the completion of the transaction, the vice president now owns 7,623 shares of the company’s stock, valued at $288,225.63. This trade represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,685 shares of company stock valued at $214,730 in the last three months. 38.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Weyco Group

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of Weyco Group by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 89,620 shares of the textile maker’s stock valued at $2,717,000 after purchasing an additional 2,190 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Weyco Group by 2,329.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,725 shares of the textile maker’s stock worth $52,000 after buying an additional 1,654 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Weyco Group during the 2nd quarter valued at $25,000. Acadian Asset Management LLC grew its holdings in shares of Weyco Group by 9.1% during the 2nd quarter. Acadian Asset Management LLC now owns 23,921 shares of the textile maker’s stock valued at $724,000 after acquiring an additional 2,002 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Weyco Group by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 558,954 shares of the textile maker’s stock valued at $16,947,000 after acquiring an additional 8,930 shares in the last quarter. Hedge funds and other institutional investors own 23.59% of the company’s stock.

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.