Fort Washington Investment Advisors Inc. OH Buys 262,000 Shares of Steven Madden, Ltd. $SHOO

Key Points

• Fort Washington Investment Advisors increased its stake in Steven Madden by 58.7% in the first quarter, buying an additional 262,000 shares and ending with 708,053 shares worth about $24.0 million.
• Steven Madden’s most recent quarter showed better-than-expected earnings and revenue, with EPS of $0.45 versus $0.42 expected and revenue of $653.1 million, up 18% year over year.
• The stock has drawn mixed views from analysts, with a consensus rating of “Hold” and an average price target of $45.12, while insiders have also recently sold shares.

Fort Washington Investment Advisors Inc. OH raised its stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 58.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 708,053 shares of the textile maker's stock after purchasing an additional 262,000 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.97% of Steven Madden worth $24,017,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC purchased a new position in shares of Steven Madden during the first quarter valued at about $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Steven Madden by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker's stock worth $1,143,000 after acquiring an additional 1,437 shares during the period. Millennium Management LLC raised its position in shares of Steven Madden by 1,170.4% in the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker's stock worth $16,438,000 after acquiring an additional 568,477 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Steven Madden by 5.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,270 shares of the textile maker's stock valued at $5,388,000 after purchasing an additional 10,603 shares during the period. Finally, Jane Street Group LLC lifted its stake in shares of Steven Madden by 273.1% in the 1st quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker's stock valued at $4,196,000 after purchasing an additional 115,284 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Arian Simone Reed sold 648 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $39.97, for a total transaction of $25,900.56. Following the sale, the director directly owned 8,057 shares of the company's stock, valued at $322,038.29. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christina Ciglar sold 5,147 shares of Steven Madden stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $44.74, for a total value of $230,276.78. Following the completion of the sale, the insider owned 35,200 shares of the company's stock, valued at $1,574,848. The trade was a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 6,270 shares of company stock worth $276,992. Corporate insiders own 2.21% of the company's stock.

Steven Madden Price Performance

NASDAQ:SHOO opened at $43.22 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.23. The firm has a market cap of $3.16 billion, a P/E ratio of 41.16 and a beta of 1.15. Steven Madden, Ltd. has a fifty-two week low of $22.26 and a fifty-two week high of $47.10. The firm has a 50-day simple moving average of $41.40 and a two-hundred day simple moving average of $40.08.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The textile maker reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. Steven Madden had a net margin of 2.89% and a return on equity of 12.29%. The firm had revenue of $653.10 million for the quarter, compared to analysts' expectations of $646.64 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The business's revenue for the quarter was up 18.0% on a year-over-year basis. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. Analysts predict that Steven Madden, Ltd. will post 2.09 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Monday, June 8th were paid a $0.21 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.84 annualized dividend and a dividend yield of 1.9%. Steven Madden's payout ratio is currently 80.00%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SHOO. UBS Group reiterated a "neutral" rating and issued a $40.00 price objective (up from $38.00) on shares of Steven Madden in a report on Monday, April 27th. Williams Trading set a $48.00 price target on shares of Steven Madden in a research note on Tuesday, March 10th. Zacks Research raised shares of Steven Madden from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 8th. BTIG Research reaffirmed a "buy" rating and set a $50.00 target price on shares of Steven Madden in a research note on Thursday, June 4th. Finally, Wall Street Zen upgraded shares of Steven Madden from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $45.12.

Steven Madden Company Profile

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.

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