British Airways Pensions Investment Management Ltd Sells 180,070 Shares of Mattel Inc. (MAT)
British Airways Pensions Investment Management Ltd cut its stake in Mattel Inc. (NASDAQ:MAT) by 24.4% during the second quarter, Holdings Channel reports. The firm owned 558,240 shares of the company’s stock after selling 180,070 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Mattel were worth $17,537,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bollard Group LLC raised its stake in Mattel by 1.2% in the second quarter. Bollard Group LLC now owns 4,078 shares of the company’s stock worth $128,000 after buying an additional 48 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Mattel by 4.2% in the second quarter. Checchi Capital Advisers LLC now owns 5,573 shares of the company’s stock worth $174,000 after buying an additional 226 shares in the last quarter. IFP Advisors Inc raised its stake in Mattel by 67.1% in the first quarter. IFP Advisors Inc now owns 5,265 shares of the company’s stock worth $177,000 after buying an additional 2,114 shares in the last quarter. Private Trust Co. NA bought a new stake in Mattel during the second quarter worth $209,000. Finally, Fox Run Management L.L.C. bought a new stake in Mattel during the second quarter worth $219,000. 95.49% of the stock is currently owned by institutional investors.
Mattel Inc. (NASDAQ:MAT) traded up 0.75% during midday trading on Thursday, hitting $32.11. The stock had a trading volume of 2,875,886 shares. The stock has a 50 day moving average of $32.96 and a 200 day moving average of $32.33. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 31.79 and a beta of 0.93. Mattel Inc. has a 12 month low of $19.45 and a 12 month high of $34.76.
Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Wednesday, July 20th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Mattel had a net margin of 6.17% and a return on equity of 16.23%. The firm earned $957.30 million during the quarter, compared to analysts’ expectations of $937.85 million. During the same period in the previous year, the company earned $0.01 earnings per share. Mattel’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts expect that Mattel Inc. will post $1.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, August 23rd were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $1.52 dividend on an annualized basis and a yield of 4.73%. Mattel’s dividend payout ratio (DPR) is presently 149.02%.
MAT has been the subject of a number of analyst reports. B. Riley restated a “buy” rating and set a $38.00 target price on shares of Mattel in a report on Wednesday, May 25th. Zacks Investment Research upgraded Mattel from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, June 21st. MKM Partners restated a “hold” rating and set a $33.00 target price on shares of Mattel in a report on Tuesday, July 12th. Jefferies Group set a $36.00 price objective on Mattel and gave the company a “buy” rating in a report on Thursday, July 21st. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $30.00 price objective (up previously from $28.00) on shares of Mattel in a report on Friday, July 22nd. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $35.07.
In related news, EVP Geoffrey H. Walker sold 7,128 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $33.57, for a total value of $239,286.96. Following the completion of the sale, the executive vice president now directly owns 39,348 shares of the company’s stock, valued at $1,320,912.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.
Mattel, Inc manufactures and markets a range of toy products around the world. The Company’s segments are North America; International and American Girl. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands.
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