First Manhattan Co. Maintains Stake in Mattel, Inc. (MAT)
First Manhattan Co. maintained its position in Mattel, Inc. (NASDAQ:MAT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,909 shares of the company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Mattel were worth $1,332,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in Mattel by 3,220.3% in the first quarter. BlackRock Inc. now owns 35,888,132 shares of the company’s stock valued at $919,097,000 after buying an additional 34,807,257 shares during the period. Vanguard Group Inc. raised its position in Mattel by 4.0% in the first quarter. Vanguard Group Inc. now owns 33,667,203 shares of the company’s stock valued at $862,217,000 after buying an additional 1,279,790 shares during the period. State Street Corp raised its position in Mattel by 0.8% in the first quarter. State Street Corp now owns 14,773,530 shares of the company’s stock valued at $378,355,000 after buying an additional 117,584 shares during the period. Bank of New York Mellon Corp raised its position in Mattel by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 11,221,858 shares of the company’s stock valued at $287,391,000 after buying an additional 280,930 shares during the period. Finally, Fairpointe Capital LLC raised its position in Mattel by 36.1% in the first quarter. Fairpointe Capital LLC now owns 6,432,845 shares of the company’s stock valued at $164,745,000 after buying an additional 1,707,158 shares during the period. Hedge funds and other institutional investors own 93.82% of the company’s stock.
Mattel, Inc. (NASDAQ:MAT) opened at 19.00 on Friday. Mattel, Inc. has a 52 week low of $18.79 and a 52 week high of $34.24. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 27.26 and a beta of 0.84. The firm’s 50-day moving average is $20.84 and its 200-day moving average is $23.75.
Mattel (NASDAQ:MAT) last issued its quarterly earnings data on Thursday, July 27th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by $0.05. The company had revenue of $974.50 million for the quarter, compared to analysts’ expectations of $972.36 million. Mattel had a return on equity of 11.62% and a net margin of 4.51%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. On average, equities analysts anticipate that Mattel, Inc. will post $0.80 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.60 annualized dividend and a dividend yield of 3.16%. Mattel’s dividend payout ratio is presently 220.29%.
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MAT has been the subject of several recent analyst reports. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $22.00 price objective (down previously from $25.00) on shares of Mattel in a research note on Friday, June 16th. Jefferies Group LLC restated a “hold” rating and set a $19.00 price target on shares of Mattel in a research note on Monday, June 19th. Stifel Nicolaus restated a “hold” rating on shares of Mattel in a research note on Thursday. DA Davidson restated a “buy” rating and set a $30.00 price target on shares of Mattel in a research note on Tuesday, May 23rd. Finally, Monness Crespi & Hardt cut their price target on shares of Mattel from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, April 21st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Mattel has an average rating of “Hold” and a consensus target price of $26.53.
In related news, CEO Mary Margaret Hasti Georgiadis acquired 12,660 shares of Mattel stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average price of $19.61 per share, for a total transaction of $248,262.60. Following the transaction, the chief executive officer now owns 116,788 shares of the company’s stock, valued at $2,290,212.68. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through 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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