GLENDALE, WI—Damian Walton, the President of Florsheim Australia, a division of Weyco Group Inc. (NASDAQ:WEYS), reported the sale of 1,000 shares of common stock, according to a recent SEC filing. The shares were sold at a price of $38.21 each, totaling $38,210. Following this transaction, Walton holds 6,030 shares directly. This move comes as part of regular trading activity disclosed in the Form 4 filing with the Securities and Exchange Commission. Weyco Group, based in Glendale, Wisconsin, is known for its footwear brands, including Florsheim.
In other recent news, Weyco Group has disclosed its third quarter results for 2024, presenting a mix of outcomes. The company, during its earnings call, expressed concerns regarding the potential impact of inflation on operational costs and consumer spending. Simultaneously, it shed light on the possible risks associated with interest rate changes and other macroeconomic factors. Despite these uncertainties, the company remains cautiously optimistic, providing forward-looking statements about expected future events and financial performance. These projections, however, could be significantly affected by the aforementioned risk factors. Analysts from various firms have been closely monitoring these developments, subtly influencing their assessments and forecasts. These recent developments underscore the dynamic and complex nature of Weyco Group's financial landscape.
InvestingPro Insights
While Damian Walton's recent sale of Weyco Group Inc. (NASDAQ:WEYS) shares may catch investors' attention, it's essential to consider the broader financial picture of the company. According to InvestingPro data, Weyco Group boasts a market capitalization of $352.33 million and a P/E ratio of 12.4, suggesting a relatively modest valuation compared to some industry peers.
InvestingPro Tips highlight that Weyco Group holds more cash than debt on its balance sheet, indicating a strong financial position. This aligns with another tip noting that the company's liquid assets exceed short-term obligations, which could provide reassurance to investors concerned about the company's ability to meet its near-term financial commitments.
Notably, Weyco Group has maintained dividend payments for an impressive 54 consecutive years, as pointed out by an InvestingPro Tip. This long-standing commitment to shareholder returns is further supported by a current dividend yield of 2.79%, based on recent data. The company's ability to sustain and grow its dividend, with a 4.0% dividend growth rate over the last twelve months, may be attractive to income-focused investors.
Despite the insider sale, Weyco Group's stock has shown strong performance, with a 56.44% total return over the past year and a 34.47% return over the last six months. This positive momentum is reflected in the stock price reaching 92.45% of its 52-week high, suggesting investor confidence in the company's prospects.
For readers interested in a more comprehensive analysis, InvestingPro offers additional tips and insights beyond those mentioned here. In fact, there are 5 more InvestingPro Tips available for Weyco Group, providing a deeper understanding of the company's financial health and market position.
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