GLENDALE, WI—Judy Anderson, Vice President and Chief Financial Officer of Weyco Group Inc. (NASDAQ:WEYS), recently sold 2,893 shares of the company's common stock. The shares were sold on November 12 at a price of $37.98 per share, totaling approximately $109,876.
Following this transaction, Anderson retains direct ownership of 13,100 shares in Weyco Group. The company, headquartered in Glendale, Wisconsin, is known for its wholesale apparel, piece goods, and notions. Anderson's role as an officer in the company continues as she manages her stock holdings, which include a range of stock options with varying exercise prices and expiration dates.
In other recent news, Weyco Group has reported its third-quarter results for 2024, revealing a mixture of outcomes. The company's financial performance was discussed in detail during an earnings call, with key figures such as CFO Judy Anderson, Chairman and CEO Tom Florsheim, Jr., and President and COO John Florsheim addressing the potential impact of macroeconomic factors, including inflation and interest rate changes. These factors were considered potential risks that could cause actual results to significantly differ from projections.
Weyco Group also provided forward-looking statements about expectations for future events and financial performance, despite expressing concerns about the uncertain impact of inflation on operational costs and consumer spending. No specific financial misses were discussed during the call, and although the question-and-answer session may have provided additional insights into the company's performance and expectations, specific details were not provided in the summary. These are the latest developments for Weyco Group, a company navigating through challenging economic conditions while remaining focused on their strategic goals.
InvestingPro Insights
While Judy Anderson's recent stock sale might raise eyebrows, a closer look at Weyco Group's financials reveals a company with solid fundamentals. According to InvestingPro data, Weyco Group boasts a market capitalization of $357.92 million and a price-to-earnings ratio of 12.54, suggesting the stock may be reasonably valued relative to its earnings.
InvestingPro Tips highlight Weyco's financial strength, noting that the company holds more cash than debt on its balance sheet and has maintained dividend payments for an impressive 54 consecutive years. This long-standing commitment to shareholder returns is further underscored by a current dividend yield of 2.75%.
Despite Anderson's sale, Weyco Group's stock has shown strong performance, with a 43.77% total return over the past year and a 28.21% return in the last six months. This positive momentum is reflected in another InvestingPro Tip, which points out the stock's large price uptick over the last six months.
For investors seeking a deeper understanding of Weyco Group's potential, InvestingPro offers 7 additional tips that could provide valuable insights into the company's prospects. These tips, along with real-time financial metrics, can help investors make more informed decisions about their portfolio strategy.
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