Oppenheimer Asset Management Inc. Acquires New Stake in Mattel, Inc. (MAT)

Oppenheimer Asset Management Inc. bought a new position in Mattel, Inc. (NASDAQ:MAT) during the first quarter, according to its most recent disclosure with the SEC. The fund bought 358,176 shares of the company’s stock, valued at approximately $9,172,000.

Several other hedge funds also recently modified their holdings of the company. Loomis Sayles & Co. L P increased its stake in shares of Mattel by 23.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 15,647 shares of the company’s stock worth $431,000 after buying an additional 3,012 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Mattel by 13.7% in the fourth quarter. Franklin Resources Inc. now owns 899,564 shares of the company’s stock worth $24,783,000 after buying an additional 108,436 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Mattel during the fourth quarter worth approximately $826,000. Renaissance Technologies LLC bought a new stake in shares of Mattel during the fourth quarter worth approximately $19,211,000. Finally, Credit Agricole S A increased its stake in shares of Mattel by 56.6% in the fourth quarter. Credit Agricole S A now owns 179,756 shares of the company’s stock worth $4,953,000 after buying an additional 64,946 shares during the last quarter. Hedge funds and other institutional investors own 95.20% of the company’s stock.

Institutional Ownership by Quarter for Mattel (NASDAQ:MAT)

Mattel, Inc. (MAT) traded up 1.80% during trading on Thursday, reaching $20.35. The company had a trading volume of 2,226,013 shares. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of 25.53 and a beta of 0.86. Mattel, Inc. has a 1-year low of $19.81 and a 1-year high of $34.24. The firm has a 50-day moving average of $22.14 and a 200-day moving average of $25.49.

Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Thursday, April 20th. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.15. Mattel had a net margin of 5.22% and a return on equity of 13.19%. The business had revenue of $735.60 million during the quarter, compared to analysts’ expectations of $797.60 million. During the same period in the prior year, the firm posted ($0.14) EPS. Mattel’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, analysts anticipate that Mattel, Inc. will post $1.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 23rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Monday, August 21st. Mattel’s dividend payout ratio (DPR) is 192.41%.

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A number of analysts have recently commented on the company. B. Riley restated a “buy” rating and issued a $35.00 target price on shares of Mattel in a research note on Sunday, February 26th. Zacks Investment Research upgraded Mattel from a “sell” rating to a “hold” rating in a research note on Friday, April 7th. Monness Crespi & Hardt lowered their target price on Mattel from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, April 21st. BMO Capital Markets restated a “buy” rating on shares of Mattel in a research note on Wednesday, June 7th. Finally, Argus downgraded Mattel from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $28.32.

In other news, Director Dean A. Scarborough purchased 47,000 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were acquired at an average price of $21.95 per share, with a total value of $1,031,650.00. Following the purchase, the director now directly owns 77,573 shares of the company’s stock, valued at $1,702,727.35. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is owned by insiders.

About Mattel

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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