Fenimore Asset Management Inc. reduced its stake in shares of Mattel Inc. (NASDAQ:MAT) by 0.7% during the third quarter, Holdings Channel reports. The fund owned 330,187 shares of the company’s stock after selling 2,450 shares during the period. Fenimore Asset Management Inc.’s holdings in Mattel were worth $9,998,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Simmons Bank acquired a new position in Mattel during the first quarter valued at about $1,590,000. Geode Capital Management LLC raised its position in Mattel by 3.1% in the first quarter. Geode Capital Management LLC now owns 2,914,904 shares of the company’s stock valued at $97,809,000 after buying an additional 88,264 shares during the period. Pictet Asset Management Ltd. raised its position in Mattel by 1.3% in the first quarter. Pictet Asset Management Ltd. now owns 222,031 shares of the company’s stock valued at $7,220,000 after buying an additional 2,800 shares during the period. Pacific Global Investment Management CO acquired a new position in Mattel during the first quarter valued at about $237,000. Finally, Scotia Capital Inc. acquired a new position in Mattel during the first quarter valued at about $1,106,000. Institutional investors and hedge funds own 95.49% of the company’s stock.
Mattel Inc. (NASDAQ:MAT) opened at 29.60 on Thursday. Mattel Inc. has a 12 month low of $22.00 and a 12 month high of $34.76. The stock’s 50 day moving average is $31.72 and its 200-day moving average is $32.11. The company has a market capitalization of $10.08 billion, a PE ratio of 29.31 and a beta of 0.99.
Mattel (NASDAQ:MAT) last issued its earnings results on Wednesday, July 20th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company earned $957.30 million during the quarter, compared to analysts’ expectations of $937.85 million. Mattel had a net margin of 6.17% and a return on equity of 16.23%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS. On average, analysts expect that Mattel Inc. will post $1.34 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Tuesday, August 23rd were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 5.13%. The ex-dividend date was Friday, August 19th. Mattel’s payout ratio is presently 149.02%.
Several research analysts recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $38.00 price target on shares of Mattel in a research report on Tuesday, July 26th. Zacks Investment Research lowered shares of Mattel from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Jefferies Group set a $36.00 price objective on shares of Mattel and gave the stock a “buy” rating in a report on Thursday, July 21st. MKM Partners raised their price objective on shares of Mattel from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, July 21st. Finally, Piper Jaffray Cos. reaffirmed 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. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.48.
In other news, EVP Geoffrey H. Walker sold 7,128 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 39,348 shares in the company, valued at approximately $1,320,912.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by 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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