Teachers Retirement System of The State of Kentucky Sells 444,700 Shares of Mattel, Inc. (NASDAQ:MAT)
Teachers Retirement System of The State of Kentucky decreased its position in shares of Mattel, Inc. (NASDAQ:MAT) by 91.9% during the first quarter, Holdings Channel reports. The fund owned 39,266 shares of the company’s stock after selling 444,700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Mattel were worth $1,006,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Achmea Investment Management B.V. acquired a new position in shares of Mattel during the first quarter worth $1,181,000. Lapides Asset Management LLC raised its position in shares of Mattel by 0.3% in the first quarter. Lapides Asset Management LLC now owns 373,400 shares of the company’s stock worth $9,563,000 after buying an additional 1,200 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Mattel by 930.8% in the first quarter. Bank of Nova Scotia now owns 78,515 shares of the company’s stock worth $2,011,000 after buying an additional 70,898 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Mattel by 1.2% in the first quarter. HighTower Advisors LLC now owns 51,921 shares of the company’s stock worth $1,345,000 after buying an additional 600 shares in the last quarter. Finally, Credit Suisse AG raised its position in shares of Mattel by 165.6% in the first quarter. Credit Suisse AG now owns 3,131,042 shares of the company’s stock worth $80,186,000 after buying an additional 1,951,994 shares in the last quarter. Institutional investors own 93.74% of the company’s stock.
Mattel, Inc. (NASDAQ:MAT) opened at 20.85 on Wednesday. The stock has a 50 day moving average price of $21.36 and a 200 day moving average price of $24.37. Mattel, Inc. has a 12 month low of $19.41 and a 12 month high of $34.24. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 26.16 and a beta of 0.85.
Mattel (NASDAQ:MAT) last announced its earnings results on Thursday, April 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.15. The business had revenue of $735.60 million for the quarter, compared to analysts’ expectations of $797.60 million. Mattel had a net margin of 5.22% and a return on equity of 13.19%. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.14) EPS. Analysts anticipate that Mattel, Inc. will post $0.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 23rd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.88%. Mattel’s payout ratio is 192.41%.
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A number of research firms have recently issued reports on MAT. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $22.00 price objective (down from $25.00) on shares of Mattel in a report on Friday, June 16th. Jefferies Group LLC reiterated a “hold” rating and issued a $19.00 price objective on shares of Mattel in a report on Monday, June 19th. DA Davidson reiterated a “buy” rating and issued a $30.00 price objective on shares of Mattel in a report on Tuesday, May 23rd. Monness Crespi & Hardt cut their price objective on Mattel from $34.00 to $29.00 and set a “buy” rating for the company in a report on Friday, April 21st. Finally, Barclays PLC cut their price objective on Mattel from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $28.03.
In other news, Director Dean A. Scarborough purchased 47,000 shares of the stock in a transaction that occurred on Monday, April 24th. The stock was purchased at an average price of $21.95 per share, for a total transaction of $1,031,650.00. Following the completion of the acquisition, the director now owns 77,573 shares of the company’s stock, valued at $1,702,727.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by insiders.
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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