Dynamic Technology Lab Private Ltd Invests $384,000 in Steven Madden, Ltd. $SHOO

Key Points

• Dynamic Technology Lab Private Ltd has acquired a stake in Steven Madden, Ltd., purchasing 14,420 shares valued at approximately $384,000.
• Multiple large investors have increased their holdings in Steven Madden during the first quarter, with institutional investors now owning 99.88% of the company's stock.
• Steven Madden announced a quarterly dividend of $0.21 per share, reflecting an annual yield of 2.6% and a payout ratio of 66.14%.

Dynamic Technology Lab Private Ltd bought a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,420 shares of the textile maker's stock, valued at approximately $384,000.

Several other large investors have also bought and sold shares of the company. Punch & Associates Investment Management Inc. boosted its stake in Steven Madden by 67.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 327,422 shares of the textile maker's stock valued at $8,723,000 after buying an additional 132,282 shares in the last quarter. Nixon Capital LLC bought a new position in Steven Madden during the first quarter valued at about $4,678,000. Millennium Management LLC boosted its stake in Steven Madden by 1,170.4% during the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker's stock valued at $16,438,000 after buying an additional 568,477 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Steven Madden by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker's stock worth $1,143,000 after buying an additional 1,437 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in Steven Madden in the first quarter worth approximately $752,000. Institutional investors own 99.88% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on SHOO. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Wall Street Zen lowered Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. UBS Group increased their price target on Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and increased their price target for the company from $26.00 to $32.00 in a research report on Thursday, July 17th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $26.00 price target (up previously from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Steven Madden presently has a consensus rating of "Hold" and a consensus price target of $28.80.

Steven Madden Trading Up 4.2%

Shares of NASDAQ SHOO opened at $31.79 on Friday. Steven Madden, Ltd. has a one year low of $19.05 and a one year high of $50.01. The firm has a market capitalization of $2.31 billion, a PE ratio of 25.03 and a beta of 1.21. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $26.95 and a two-hundred day moving average price of $25.50.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The business had revenue of $556.09 million for the quarter, compared to analyst estimates of $575.83 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. The company's revenue was up 6.8% compared to the same quarter last year. As a group, analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 12th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.6%. Steven Madden's dividend payout ratio (DPR) is 66.14%.

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.

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