Fort Washington Investment Advisors Inc. OH Sells 91,224 Shares of Steven Madden, Ltd. $SHOO

Fort Washington Investment Advisors Inc. OH lowered its holdings in Steven Madden, Ltd. (NASDAQ:SHOO) by 17.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 446,053 shares of the textile maker’s stock after selling 91,224 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Steven Madden were worth $18,574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOO. Vanguard Group Inc. grew its stake in shares of Steven Madden by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker’s stock valued at $277,342,000 after purchasing an additional 200,013 shares during the period. Wellington Management Group LLP boosted its stake in Steven Madden by 18.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,453,208 shares of the textile maker’s stock valued at $115,613,000 after buying an additional 528,829 shares in the last quarter. Capital Research Global Investors grew its position in Steven Madden by 14.0% in the third quarter. Capital Research Global Investors now owns 2,720,354 shares of the textile maker’s stock valued at $91,077,000 after acquiring an additional 334,058 shares during the period. Dimensional Fund Advisors LP raised its stake in Steven Madden by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,450,539 shares of the textile maker’s stock worth $82,046,000 after acquiring an additional 41,947 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Steven Madden by 50.5% during the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock valued at $58,198,000 after acquiring an additional 814,318 shares during the period. Institutional investors own 99.88% of the company’s stock.

Steven Madden Price Performance

Shares of SHOO stock opened at $33.11 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.90. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $46.88. The firm’s 50 day moving average price is $37.75 and its two-hundred day moving average price is $38.14. The stock has a market cap of $2.41 billion, a PE ratio of 53.40 and a beta of 1.13.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The firm had revenue of $753.70 million for the quarter, compared to analysts’ expectations of $758.53 million. During the same quarter last year, the business earned $0.55 earnings per share. The company’s revenue was up 29.6% compared to the same quarter last year. As a group, analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Wednesday, March 11th were given a $0.21 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.84 annualized dividend and a dividend yield of 2.5%. Steven Madden’s payout ratio is currently 135.48%.

Insider Transactions at Steven Madden

In other Steven Madden news, Director Arian Simone Reed sold 3,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total transaction of $120,384.00. Following the sale, the director directly owned 8,705 shares in the company, valued at approximately $291,095.20. This trade represents a 29.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOO has been the subject of a number of recent analyst reports. BTIG Research reiterated a “buy” rating and set a $50.00 target price on shares of Steven Madden in a research report on Thursday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Steven Madden in a report on Thursday, February 26th. Needham & Company LLC reduced their target price on Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Finally, Zacks Research downgraded Steven Madden from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 10th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.00.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.