Empowered Funds LLC Raises Stake in Weyco Group, Inc. (NASDAQ:WEYS)

Empowered Funds LLC boosted its holdings in shares of Weyco Group, Inc. (NASDAQ:WEYS) by 5.1% in the third quarter, HoldingsChannel reports. The fund owned 36,042 shares of the textile maker’s stock after acquiring an additional 1,742 shares during the period. Empowered Funds LLC’s holdings in Weyco Group were worth $1,227,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in Weyco Group in the second quarter worth about $25,000. Allspring Global Investments Holdings LLC raised its holdings in Weyco Group by 2,329.6% in the second 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 during the last quarter. BNP Paribas Financial Markets raised its holdings in Weyco Group by 83.6% in the first quarter. BNP Paribas Financial Markets now owns 3,198 shares of the textile maker’s stock worth $102,000 after buying an additional 1,456 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Weyco Group by 23.4% in the third quarter. Ritholtz Wealth Management now owns 9,980 shares of the textile maker’s stock worth $340,000 after buying an additional 1,893 shares during the last quarter. Finally, First Business Financial Services Inc. raised its holdings in Weyco Group by 8.3% in the third quarter. First Business Financial Services Inc. now owns 13,096 shares of the textile maker’s stock worth $446,000 after buying an additional 1,000 shares during the last quarter. 23.59% of the stock is owned by hedge funds and other institutional investors.

Weyco Group Stock Up 1.2 %

Shares of WEYS stock opened at $36.45 on Friday. The company has a 50 day moving average price of $34.72 and a 200-day moving average price of $32.42. Weyco Group, Inc. has a 52 week low of $27.05 and a 52 week high of $41.05. The firm has a market capitalization of $348.46 million, a PE ratio of 12.03 and a beta of 0.71.

Weyco Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, November 18th will be paid a $2.26 dividend. The ex-dividend date of this dividend is Monday, November 18th. This is a positive change from Weyco Group’s previous quarterly dividend of $0.26. This represents a $9.04 dividend on an annualized basis and a dividend yield of 24.80%. Weyco Group’s payout ratio is currently 34.44%.

Wall Street Analyst Weigh In

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

Insider Transactions at Weyco Group

In related news, CFO Judy Anderson sold 2,893 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $37.98, for a total transaction of $109,876.14. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Allison Woss sold 1,463 shares of the business’s 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 sale, 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 8,019 shares of company stock worth $291,957 over the last three months. 38.90% of the stock is currently owned by company insiders.

Weyco Group Company Profile

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.