MetLife Investment Advisors LLC bought a new position in shares of Steve Madden (NASDAQ:SHOO) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 27,483 shares of the textile maker’s stock, valued at approximately $1,283,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System increased its holdings in Steve Madden by 6.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the textile maker’s stock worth $1,069,000 after purchasing an additional 1,300 shares in the last quarter. Sei Investments Co. increased its holdings in Steve Madden by 1.9% during the 4th quarter. Sei Investments Co. now owns 114,783 shares of the textile maker’s stock worth $5,361,000 after purchasing an additional 2,181 shares in the last quarter. American International Group Inc. increased its holdings in Steve Madden by 5.9% during the 3rd quarter. American International Group Inc. now owns 46,108 shares of the textile maker’s stock worth $1,996,000 after purchasing an additional 2,554 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Steve Madden by 13.4% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 22,780 shares of the textile maker’s stock worth $1,064,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Wolverine Trading LLC increased its holdings in Steve Madden by 311.2% during the 4th quarter. Wolverine Trading LLC now owns 4,523 shares of the textile maker’s stock worth $211,000 after purchasing an additional 3,423 shares in the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.
In other news, CEO Edward R. Rosenfeld sold 33,000 shares of the stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $45.82, for a total transaction of $1,512,060.00. Following the completion of the transaction, the chief executive officer now directly owns 515,200 shares in the company, valued at approximately $23,606,464. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.06% of the company’s stock.
Steve Madden stock opened at $46.05 on Monday. Steve Madden has a one year low of $35.55 and a one year high of $49.28. The stock has a market cap of $2,706.91, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.48 and a beta of 0.47.
Steve Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, February 27th. The textile maker reported $0.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.48. Steve Madden had a net margin of 7.63% and a return on equity of 16.68%. The company had revenue of $364.40 million during the quarter, compared to the consensus estimate of $360.27 million. During the same period in the prior year, the business posted $0.49 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. research analysts anticipate that Steve Madden will post 2.67 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Monday, March 12th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.74%. Steve Madden’s dividend payout ratio is 35.71%.
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About Steve Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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