Washington Trust Bank decreased its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,771 shares of the company’s stock after selling 247 shares during the period. Washington Trust Bank’s holdings in Mattel were worth $318,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Oakbrook Investments LLC acquired a new position in Mattel during the second quarter valued at about $298,000. Louisiana State Employees Retirement System boosted its position in Mattel by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the company’s stock valued at $456,000 after buying an additional 200 shares during the period. LS Investment Advisors LLC boosted its position in Mattel by 12.7% in the second quarter. LS Investment Advisors LLC now owns 15,067 shares of the company’s stock valued at $324,000 after buying an additional 1,703 shares during the period. Windward Capital Management Co. CA boosted its position in Mattel by 41.8% in the second quarter. Windward Capital Management Co. CA now owns 30,138 shares of the company’s stock valued at $649,000 after buying an additional 8,882 shares during the period. Finally, Concorde Asset Management LLC boosted its position in Mattel by 4.4% in the second quarter. Concorde Asset Management LLC now owns 11,172 shares of the company’s stock valued at $241,000 after buying an additional 470 shares during the period. 91.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mattel, Inc. (MAT) opened at 18.00 on Thursday. The firm has a 50-day moving average price of $20.44 and a 200 day moving average price of $23.34. The company has a market capitalization of $6.18 billion, a P/E ratio of 25.82 and a beta of 0.84. Mattel, Inc. has a 12-month low of $17.95 and a 12-month high of $34.20.
Mattel (NASDAQ:MAT) last released its quarterly earnings data on Thursday, July 27th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by $0.05. The firm 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 company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.02) earnings per share. On average, equities research analysts predict that Mattel, Inc. will post $0.80 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders 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 3.33%. Mattel’s dividend payout ratio is presently 220.29%.
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MAT has been the topic of several recent research reports. BidaskClub cut Mattel from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. DA Davidson cut Mattel from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $22.00 to $18.00 in a research note on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “hold” rating on shares of Mattel in a research note on Thursday, August 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $25.00 price target (down from $30.00) on shares of Mattel in a research note on Friday, July 28th. Finally, UBS AG set a $26.00 price target on Mattel and gave the stock a “buy” rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $26.53.
In related news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average cost of $19.61 per share, for a total transaction of $248,262.60. Following the acquisition, the chief executive officer now owns 116,788 shares of the company’s stock, valued at approximately $2,290,212.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.
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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