TheStreet Upgrades Weyco Group (WEYS) to “B-“

Weyco Group (NASDAQ:WEYS) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b-” rating in a research note issued to investors on Thursday, November 16th.

Separately, BidaskClub upgraded shares of Weyco Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd.

Weyco Group (WEYS) traded up $0.24 during trading on Thursday, reaching $28.26. 16,612 shares of the company’s stock traded hands, compared to its average volume of 15,733. Weyco Group has a 1 year low of $23.75 and a 1 year high of $32.30. The firm has a market cap of $277.02, a price-to-earnings ratio of 19.55 and a beta of 0.67.

Weyco Group (NASDAQ:WEYS) last announced its quarterly earnings results on Friday, October 27th. The textile maker reported $0.48 EPS for the quarter. Weyco Group had a net margin of 5.81% and a return on equity of 7.08%. The company had revenue of $76.91 million for the quarter.

In related news, VP Brian Flannery sold 7,145 shares of Weyco Group stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $27.95, for a total transaction of $199,702.75. Following the completion of the transaction, the vice president now directly owns 24,295 shares of the company’s stock, valued at approximately $679,045.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Florsheim sold 30,052 shares of Weyco Group stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $28.00, for a total transaction of $841,456.00. Following the transaction, the chief operating officer now directly owns 278,764 shares of the company’s stock, valued at $7,805,392. The disclosure for this sale can be found here. Insiders have sold a total of 45,785 shares of company stock valued at $1,281,418 over the last ninety days. 42.81% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. grew its position in shares of Weyco Group by 7.0% during the 1st quarter. American International Group Inc. now owns 4,007 shares of the textile maker’s stock worth $113,000 after buying an additional 261 shares during the period. Wells Fargo & Company MN grew its position in shares of Weyco Group by 71.2% during the 3rd quarter. Wells Fargo & Company MN now owns 6,691 shares of the textile maker’s stock worth $191,000 after buying an additional 2,782 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of Weyco Group during the 2nd quarter worth approximately $200,000. California Public Employees Retirement System acquired a new stake in shares of Weyco Group during the 1st quarter worth approximately $202,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Weyco Group during the 2nd quarter worth approximately $212,000. Hedge funds and other institutional investors own 32.40% of the company’s stock.

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About Weyco Group

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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