Prudential Financial Inc. raised its stake in shares of Mattel Inc. (NASDAQ:MAT) by 11.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 473,643 shares of the company’s stock after buying an additional 50,515 shares during the period. Prudential Financial Inc. owned about 0.14% of Mattel worth $14,821,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. raised its stake in shares of Mattel by 4.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,188,203 shares of the company’s stock worth $308,907,000 after buying an additional 379,402 shares in the last quarter. Gateway Advisory LLC bought a new position in Mattel during the first quarter valued at $546,000. FDO Partners LLC bought a new position in Mattel during the first quarter valued at $537,000. Bancorpsouth Inc. raised its position in Mattel by 7.1% in the first quarter. Bancorpsouth Inc. now owns 41,686 shares of the company’s stock valued at $1,402,000 after buying an additional 2,767 shares during the period. Finally, Willingdon Wealth Management raised its position in Mattel by 17.9% in the first quarter. Willingdon Wealth Management now owns 42,590 shares of the company’s stock valued at $1,430,000 after buying an additional 6,475 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.
Shares of Mattel Inc. (NASDAQ:MAT) opened at 30.28 on Friday. The company’s 50-day moving average price is $32.51 and its 200 day moving average price is $32.24. The firm has a market cap of $10.31 billion, a PE ratio of 29.98 and a beta of 0.93. Mattel Inc. has a 1-year low of $20.02 and a 1-year high of $34.76.
Mattel (NASDAQ:MAT) last issued its quarterly earnings results on Wednesday, July 20th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.03. Mattel had a return on equity of 16.23% and a net margin of 6.17%. The business earned $957.30 million during the quarter, compared to analyst estimates of $937.85 million. During the same quarter in the prior year, the business posted $0.01 EPS. Mattel’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts predict that Mattel Inc. will post $1.34 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, August 23rd were paid 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 5.02%. Mattel’s payout ratio is presently 149.02%.
A number of research firms recently weighed in on MAT. Vetr raised Mattel from a “sell” rating to a “buy” rating and set a $36.30 target price on the stock in a report on Monday, August 15th. Zacks Investment Research upgraded Mattel from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, June 21st. MKM Partners restated a “hold” rating and issued a $33.00 price target on shares of Mattel in a research note on Tuesday, July 12th. Monness Crespi & Hardt upgraded Mattel from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, September 19th. Finally, Piper Jaffray Cos. restated a “neutral” rating and issued a $30.00 price target (up from $28.00) on shares of Mattel in a research note on Friday, July 22nd. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $35.07.
In other Mattel news, EVP Geoffrey H. Walker sold 7,128 shares of the stock in a transaction on Tuesday, August 30th. The stock was 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 owns 39,348 shares in the company, valued at approximately $1,320,912.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by company 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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