Bank of New York Mellon Corp Raises Position in Mattel Inc. (MAT)
Bank of New York Mellon Corp boosted its position in Mattel Inc. (NASDAQ:MAT) by 0.2% during the third quarter, Holdings Channel reports. The fund owned 10,570,721 shares of the company’s stock after buying an additional 21,798 shares during the period. Bank of New York Mellon Corp’s holdings in Mattel were worth $320,082,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. NEXT Financial Group Inc boosted its position in Mattel by 413.5% in the third quarter. NEXT Financial Group Inc now owns 3,353 shares of the company’s stock valued at $102,000 after buying an additional 2,700 shares during the last quarter. Bollard Group LLC boosted its position in Mattel by 1.2% in the second quarter. Bollard Group LLC now owns 4,078 shares of the company’s stock valued at $128,000 after buying an additional 48 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in Mattel by 130.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,258 shares of the company’s stock valued at $133,000 after buying an additional 2,410 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in Mattel by 4.2% in the second quarter. Checchi Capital Advisers LLC now owns 5,573 shares of the company’s stock valued at $174,000 after buying an additional 226 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Mattel by 268.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,688 shares of the company’s stock valued at $178,000 after buying an additional 4,144 shares during the last quarter. Institutional investors and hedge funds own 94.43% of the company’s stock.
Mattel Inc. (NASDAQ:MAT) opened at 31.49 on Tuesday. The firm has a market capitalization of $10.77 billion, a P/E ratio of 30.11 and a beta of 0.98. The firm’s 50-day moving average is $31.23 and its 200-day moving average is $31.89. Mattel Inc. has a 52-week low of $23.85 and a 52-week high of $34.76.
Mattel (NASDAQ:MAT) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.01. The company earned $1.80 billion during the quarter, compared to analyst estimates of $940.30 million. Mattel had a net margin of 6.39% and a return on equity of 16.55%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.71 EPS. On average, equities analysts expect that Mattel Inc. will post $1.29 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 22nd will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Friday, November 18th. Mattel’s dividend payout ratio (DPR) is presently 146.16%.
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Several research firms recently commented on MAT. B. Riley reiterated a “buy” rating and set a $41.00 target price on shares of Mattel in a research note on Friday, November 4th. Citigroup Inc. boosted their price target on shares of Mattel from $36.00 to $38.00 and gave the company a “buy” rating in a report on Monday, August 15th. Vetr raised shares of Mattel from a “sell” rating to a “buy” rating and set a $36.30 price target on the stock in a report on Monday, August 15th. Jefferies Group reissued a “buy” rating and issued a $36.00 price target on shares of Mattel in a report on Thursday, October 13th. Finally, MKM Partners raised shares of Mattel from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Monday, October 10th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Mattel presently has a consensus rating of “Buy” and an average target price of $35.38.
In related news, Director Dominic Ng sold 9,000 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $30.79, for a total value of $277,110.00. Following the completion of the transaction, the director now owns 14,000 shares of the company’s stock, valued at $431,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate 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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