Tocqueville Asset Management L.P. Has $9.78 Million Stake in Mattel, Inc. (MAT)

Tocqueville Asset Management L.P. decreased its position in Mattel, Inc. (NASDAQ:MAT) by 54.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 454,450 shares of the company’s stock after selling 537,965 shares during the period. Tocqueville Asset Management L.P. owned 0.13% of Mattel worth $9,784,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MAT. BlackRock Inc. increased its position in Mattel by 3,220.3% in the first quarter. BlackRock Inc. now owns 35,888,132 shares of the company’s stock worth $919,097,000 after buying an additional 34,807,257 shares in the last quarter. Vanguard Group Inc. increased its position in Mattel by 4.0% in the first quarter. Vanguard Group Inc. now owns 33,667,203 shares of the company’s stock worth $862,217,000 after buying an additional 1,279,790 shares in the last quarter. State Street Corp increased its position in Mattel by 0.8% in the first quarter. State Street Corp now owns 14,773,530 shares of the company’s stock worth $378,355,000 after buying an additional 117,584 shares in the last quarter. Bank of New York Mellon Corp increased its position in 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 worth $287,391,000 after buying an additional 280,930 shares in the last quarter. Finally, Fairpointe Capital LLC increased its position in Mattel by 36.1% in the first quarter. Fairpointe Capital LLC now owns 6,432,845 shares of the company’s stock worth $164,745,000 after buying an additional 1,707,158 shares in the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Shares of Mattel, Inc. (NASDAQ MAT) opened at 16.31 on Wednesday. The company has a market capitalization of $5.59 billion, a P/E ratio of 23.40 and a beta of 0.84. The company has a 50-day moving average of $19.66 and a 200 day moving average of $22.71. Mattel, Inc. has a 12 month low of $16.14 and a 12 month high of $33.98.

Mattel (NASDAQ:MAT) last announced its earnings results on Thursday, July 27th. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $974.50 million during the quarter, compared to the consensus estimate of $972.36 million. During the same quarter in the previous year, the company earned ($0.02) earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. Analysts forecast that Mattel, Inc. will post $0.80 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 23rd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Monday, August 21st. Mattel’s payout ratio is presently 220.29%.

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A number of brokerages have recently commented on MAT. Monness Crespi & Hardt cut their target price on shares of Mattel from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, June 15th. B. Riley reissued a “buy” rating and issued a $30.50 target price on shares of Mattel in a research note on Wednesday, April 26th. DA Davidson reissued a “buy” rating and issued a $30.00 target price on shares of Mattel in a research note on Monday, June 12th. BMO Capital Markets reaffirmed a “buy” rating on shares of Mattel in a research note on Wednesday, June 7th. Finally, UBS AG reaffirmed a “buy” rating and set a $29.00 price target on shares of Mattel in a research note on Friday, May 19th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.65.

In other Mattel news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were purchased at an average cost of $19.61 per share, with a total value of $248,262.60. Following the completion of the purchase, the chief executive officer now owns 116,788 shares in the company, valued at $2,290,212.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

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.