In a recent transaction on March 28, Damian Walton, the President of Florsheim Australia, a subsidiary of Weyco Group Inc. (NASDAQ:WEYS), sold 720 shares of the company's common stock. The transaction was executed at a price of $30.75 per share, resulting in a total sale value of $22,140.
This sale by Walton has adjusted his direct ownership in the company to a total of 6,955 shares following the transaction. The specific details of the sale have been made public through a Form 4 filing with the Securities and Exchange Commission.
Weyco Group, headquartered in Glendale, Wisconsin, is known for its wholesale distribution of apparel, piece goods, and notions. The company, through its various subsidiaries, engages in the design and marketing of quality and innovative footwear for men, women, and children.
Investors often keep a close eye on insider transactions as they can provide valuable insights into the company's performance and the confidence level of its executives in the company's future. The recent sale by a high-ranking executive of Weyco Group may be of interest to current and potential shareholders as they assess their investment strategies.
As of the latest SEC filing, the details of this transaction are now fully accessible to the public, providing transparency into the trading activities of the company's insiders.
InvestingPro Insights
As investors digest the recent insider transaction at Weyco Group Inc. (NASDAQ:WEYS), it's important to consider the company's financial health and market performance. According to InvestingPro data, Weyco Group currently holds a market capitalization of $289 million USD, with a P/E ratio of 9.72, which is slightly adjusted to 9.47 for the last twelve months as of Q4 2023. This indicates a company that is valued reasonably in relation to its earnings.
The company's revenue for the last twelve months as of Q4 2023 stood at $318.05 million USD, showing a decline of 9.58%. Despite this decrease in revenue, the company maintains a strong gross profit margin of 44.92%, showcasing its ability to control costs and maintain profitability.
InvestingPro Tips reveal that Weyco Group has maintained dividend payments for an impressive 54 consecutive years, with a current dividend yield of 3.27%. This long-term commitment to returning value to shareholders may be particularly attractive to income-focused investors. Additionally, the company's balance sheet holds more cash than debt, providing financial stability and flexibility.
For those interested in a deeper analysis, there are additional InvestingPro Tips available, including insights on valuation, cash flow, and liquidity. To explore these further, visit the dedicated page for Weyco Group at Investing.com/pro/WEYS. Don't forget to use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, offering even more strategic insights to inform your investment decisions.
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