19,407 Shares in Steven Madden, Ltd. (NASDAQ:SHOO) Acquired by Scientech Research LLC

Scientech Research LLC acquired a new stake in Steven Madden, Ltd. (NASDAQ:SHOO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,407 shares of the textile maker’s stock, valued at approximately $821,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHOO. Norges Bank purchased a new position in shares of Steven Madden during the fourth quarter worth approximately $19,846,000. PNC Financial Services Group Inc. lifted its holdings in Steven Madden by 6.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker’s stock worth $554,000 after buying an additional 761 shares during the period. Corient Private Wealth LLC bought a new stake in Steven Madden during the 4th quarter valued at $809,000. Eagle Asset Management Inc. increased its holdings in shares of Steven Madden by 1.4% in the 4th quarter. Eagle Asset Management Inc. now owns 319,222 shares of the textile maker’s stock valued at $13,407,000 after acquiring an additional 4,504 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Steven Madden by 13.8% in the 4th quarter. First Trust Advisors LP now owns 613,449 shares of the textile maker’s stock worth $25,765,000 after acquiring an additional 74,225 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Up 0.6 %

Shares of SHOO opened at $48.69 on Friday. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 20.12 and a beta of 1.08. Steven Madden, Ltd. has a 52 week low of $30.87 and a 52 week high of $49.29. The stock’s 50-day moving average price is $44.60 and its 200-day moving average price is $42.92.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $523.60 million during the quarter, compared to analysts’ expectations of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. Steven Madden’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, equities analysts anticipate that Steven Madden, Ltd. will post 2.62 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.73%. Steven Madden’s dividend payout ratio is currently 34.71%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Wedbush reissued a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday, July 31st. Finally, BTIG Research increased their price objective on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.29.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.