Entropy Technologies LP Grows Position in Steven Madden, Ltd. (NASDAQ:SHOO)

Key Points

• Entropy Technologies LP significantly increased its stake in Steven Madden, Ltd. by 135% during the 1st quarter, now owning approximately 39,593 shares valued at $1,055,000.
• Steven Madden's stock experienced a 3.3% decline, with shares opening at $24.61, and reported earnings of $0.20 per share for the last quarter, which was below analysts' expectations.
• The company declared a quarterly dividend of $0.21 per share, yielding 3.4%, with an ex-dividend date of September 12th.

Entropy Technologies LP grew its holdings in Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 135.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,593 shares of the textile maker's stock after acquiring an additional 22,748 shares during the period. Entropy Technologies LP owned 0.05% of Steven Madden worth $1,055,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SHOO. Envestnet Asset Management Inc. raised its position in Steven Madden by 3.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 22,198 shares of the textile maker's stock worth $944,000 after acquiring an additional 804 shares during the period. Bank of Montreal Can raised its position in Steven Madden by 5.5% in the fourth quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock worth $453,000 after acquiring an additional 554 shares during the period. Invesco Ltd. raised its position in Steven Madden by 8.6% in the fourth quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock worth $74,217,000 after acquiring an additional 138,065 shares during the period. Mariner LLC raised its position in shares of Steven Madden by 7.2% during the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock valued at $202,000 after purchasing an additional 319 shares during the period. Finally, PEAK6 LLC bought a new stake in shares of Steven Madden during the 4th quarter valued at $978,000. 99.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on SHOO. Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and raised their price objective for the company from $26.00 to $32.00 in a research report on Thursday, July 17th. UBS Group raised their price objective on shares of Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Telsey Advisory Group restated a "market perform" rating and set a $26.00 price objective (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Finally, Wall Street Zen downgraded shares of Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Steven Madden has an average rating of "Hold" and an average target price of $28.80.

Steven Madden Price Performance

NASDAQ SHOO traded up $0.27 on Friday, reaching $27.01. The company had a trading volume of 1,107,659 shares, compared to its average volume of 1,848,031. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.96 billion, a PE ratio of 21.27 and a beta of 1.16. The firm's 50 day moving average price is $25.17 and its 200 day moving average price is $26.79. Steven Madden, Ltd. has a 12 month low of $19.05 and a 12 month high of $50.01.

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

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 12th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 12th. Steven Madden's dividend payout ratio (DPR) is presently 66.14%.

Steven Madden 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.