Mengis Capital Management Inc. boosted its position in shares of Mattel, Inc. (NASDAQ:MAT) by 70.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,178 shares of the company’s stock after buying an additional 7,100 shares during the period. Mengis Capital Management Inc.’s holdings in Mattel were worth $369,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake 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 in the last quarter. Vanguard Group Inc. raised its position in shares of 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 last quarter. State Street Corp raised its position in shares of 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 last quarter. Bank of New York Mellon Corp raised its position in shares of 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 last quarter. Finally, Fairpointe Capital LLC raised its position in shares of 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 last quarter. 92.56% of the stock is owned by hedge funds and other institutional investors.
Mattel, Inc. (MAT) traded down 2.04% during mid-day trading on Friday, reaching $16.82. The company’s stock had a trading volume of 5,161,673 shares. The stock’s 50 day moving average price is $19.81 and its 200 day moving average price is $22.82. The stock has a market capitalization of $5.76 billion, a P/E ratio of 24.13 and a beta of 0.84. Mattel, Inc. has a 1-year low of $16.82 and a 1-year high of $33.98.
Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Thursday, July 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by $0.05. Mattel had a net margin of 4.51% and a return on equity of 11.62%. The firm had revenue of $974.50 million for the quarter, compared to the consensus estimate of $972.36 million. During the same period in the prior year, the business earned ($0.02) earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that Mattel, Inc. will post $0.80 EPS 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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Monday, August 21st. Mattel’s dividend payout ratio is currently 220.29%.
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Several brokerages recently weighed in on MAT. Monness Crespi & Hardt lowered their price objective on Mattel from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, April 21st. B. Riley reiterated a “buy” rating and issued a $30.50 price objective (down from $35.00) on shares of Mattel in a research report on Friday, April 21st. BMO Capital Markets reiterated a “buy” rating on shares of Mattel in a research report on Wednesday, June 7th. Argus lowered Mattel from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Finally, Jefferies Group LLC began coverage on Mattel in a research report on Thursday, June 8th. They set a “hold” rating and a $22.00 price target for the company. Three analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $25.65.
In other news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $19.61 per share, with a total value of $248,262.60. Following the acquisition, the chief executive officer now directly owns 116,788 shares of the company’s stock, valued at approximately $2,290,212.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.
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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