Fort Washington Investment Advisors Inc. OH Increases Holdings in Steven Madden, Ltd. (NASDAQ:SHOO)

Fort Washington Investment Advisors Inc. OH grew its position in shares of Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 491,626 shares of the textile maker's stock after acquiring an additional 28,840 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.68% of Steven Madden worth $13,097,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CX Institutional bought a new stake in Steven Madden during the first quarter worth $32,000. Quarry LP grew its holdings in Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after buying an additional 1,110 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Steven Madden by 21.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker's stock worth $176,000 after buying an additional 741 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Steven Madden during the fourth quarter worth $177,000. Finally, Mariner LLC boosted its position in Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after purchasing an additional 319 shares during the last quarter. Institutional investors own 99.88% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on SHOO shares. UBS Group boosted their price objective on Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Loop Capital cut their price objective on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Citigroup cut their price objective on Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 price target on shares of Steven Madden in a research note on Wednesday, June 4th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $28.50.

Steven Madden Stock Performance

NASDAQ SHOO traded up $1.21 during trading hours on Monday, hitting $24.23. The company had a trading volume of 1,427,317 shares, compared to its average volume of 1,087,212. Steven Madden, Ltd. has a 52 week low of $19.05 and a 52 week high of $50.01. The firm has a 50 day simple moving average of $23.25 and a 200 day simple moving average of $31.90. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 10.31 and a beta of 1.12.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $551.38 million during the quarter, compared to the consensus estimate of $557.81 million. During the same quarter last year, the company earned $0.65 EPS. The firm's revenue was up .2% compared to the same quarter last year. On average, research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 3.47%. Steven Madden's payout ratio is currently 36.21%.

About Steven Madden

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.