CIBC Asset Management Inc Buys 1,386 Shares of Mattel, Inc. (MAT)
CIBC Asset Management Inc increased its position in shares of Mattel, Inc. (NASDAQ:MAT) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,698 shares of the company’s stock after buying an additional 1,386 shares during the period. CIBC Asset Management Inc’s holdings in Mattel were worth $1,048,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. State of Alaska Department of Revenue increased its stake in shares of Mattel by 68.6% in the first quarter. State of Alaska Department of Revenue now owns 46,518 shares of the company’s stock worth $1,190,000 after buying an additional 18,928 shares during the period. Cambridge Advisors Inc. increased its stake in shares of Mattel by 66.7% in the first quarter. Cambridge Advisors Inc. now owns 12,500 shares of the company’s stock worth $320,000 after buying an additional 5,000 shares during the period. Moody National Bank Trust Division increased its stake in shares of Mattel by 0.3% in the first quarter. Moody National Bank Trust Division now owns 20,672 shares of the company’s stock worth $529,000 after buying an additional 57 shares during the period. Bollard Group LLC increased its stake in shares of Mattel by 1.5% in the first quarter. Bollard Group LLC now owns 4,200 shares of the company’s stock worth $108,000 after buying an additional 62 shares during the period. Finally, Ledyard National Bank increased its stake in shares of Mattel by 5,136.7% in the first quarter. Ledyard National Bank now owns 15,710 shares of the company’s stock worth $402,000 after buying an additional 15,410 shares during the period. Institutional investors and hedge funds own 91.79% of the company’s stock.
Mattel, Inc. (NASDAQ:MAT) opened at 17.51 on Friday. Mattel, Inc. has a 52 week low of $17.46 and a 52 week high of $34.20. The company has a 50-day moving average price of $20.30 and a 200 day moving average price of $23.21. The company has a market cap of $6.00 billion, a PE ratio of 25.12 and a beta of 0.84.
Mattel (NASDAQ:MAT) last announced its earnings results on Thursday, July 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.05. The firm had revenue of $974.50 million during the quarter, compared to analysts’ expectations of $972.36 million. Mattel had a net margin of 4.51% and a return on equity of 11.62%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.02) EPS. On average, equities research analysts forecast that Mattel, Inc. will post $0.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 23rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Monday, August 21st. Mattel’s payout ratio is 220.29%.
A number of brokerages have issued reports on MAT. B. Riley restated a “buy” rating and set a $30.50 price objective (down from $35.00) on shares of Mattel in a research report on Friday, April 21st. Monness Crespi & Hardt decreased their price objective on Mattel from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, April 21st. BMO Capital Markets restated a “buy” rating on shares of Mattel in a research report on Wednesday, June 7th. Argus downgraded 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 objective on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.53.
In other news, CEO Mary Margaret Hasti Georgiadis bought 12,660 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were bought at an average price of $19.61 per share, with a total value of $248,262.60. Following the completion of the transaction, the chief executive officer now directly owns 116,788 shares in the company, valued at $2,290,212.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by insiders.
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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