Mattel Inc. (MAT) Announces Quarterly Dividend of $0.38
Mattel Inc. (NASDAQ:MAT) declared a quarterly dividend on Wednesday, October 19th. Shareholders of record on Tuesday, November 22nd will be given a dividend of 0.38 per share on Friday, December 9th. This represents a $1.52 dividend on an annualized basis and a yield of 4.96%.
Mattel (NASDAQ:MAT) traded down 0.29% during trading on Wednesday, reaching $30.62. The company’s stock had a trading volume of 6,072,864 shares. The company’s 50 day moving average price is $31.35 and its 200-day moving average price is $32.02. Mattel has a 1-year low of $22.63 and a 1-year high of $34.76. The stock has a market cap of $10.43 billion, a P/E ratio of 30.32 and a beta of 0.99.
Mattel (NASDAQ:MAT) last released its quarterly earnings data on Wednesday, October 19th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.01. Mattel had a net margin of 6.17% and a return on equity of 16.23%. The business earned $1.80 billion during the quarter, compared to analyst estimates of $940.30 million. During the same period in the previous year, the business earned $0.71 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts forecast that Mattel will post $1.34 earnings per share for the current fiscal year.
In other Mattel news, EVP Geoffrey H. Walker sold 7,128 shares of Mattel stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $33.57, for a total transaction of $239,286.96. Following the transaction, the executive vice president now directly owns 39,348 shares of the company’s stock, valued at approximately $1,320,912.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.88% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Mattel by 23.9% in the second quarter. FMR LLC now owns 17,320,223 shares of the company’s stock worth $541,949,000 after buying an additional 3,344,171 shares during the last quarter. Analytic Investors LLC purchased a new stake in shares of Mattel during the second quarter worth approximately $31,717,000. Teachers Advisors Inc. raised its stake in shares of Mattel by 21.0% in the second quarter. Teachers Advisors Inc. now owns 5,493,939 shares of the company’s stock worth $171,905,000 after buying an additional 953,956 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Mattel by 8.1% in the second quarter. BlackRock Fund Advisors now owns 9,984,611 shares of the company’s stock worth $312,418,000 after buying an additional 746,432 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in shares of Mattel by 96.0% in the second quarter. Lord Abbett & CO. LLC now owns 1,182,500 shares of the company’s stock worth $37,000,000 after buying an additional 579,200 shares during the last quarter. 95.50% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the company. Zacks Investment Research raised Mattel from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Tuesday, June 21st. Monness Crespi & Hardt upgraded Mattel from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Monday, September 19th. Citigroup Inc. raised their price objective on Mattel from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. Vetr upgraded Mattel from a “sell” rating to a “buy” rating and set a $36.30 price objective on the stock in a research note on Monday, August 15th. Finally, B. Riley restated a “buy” rating and set a $38.00 price objective on shares of Mattel in a research note on Tuesday, July 26th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $35.48.
Mattel Company Profile
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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