Fairpointe Capital LLC Buys 1,560,624 Shares of Mattel, Inc. (MAT)

Fairpointe Capital LLC grew its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 24.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,993,469 shares of the company’s stock after purchasing an additional 1,560,624 shares during the period. Mattel comprises about 3.4% of Fairpointe Capital LLC’s holdings, making the stock its 4th biggest holding. Fairpointe Capital LLC owned 2.33% of Mattel worth $172,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intact Investment Management Inc. lifted its holdings in shares of Mattel by 14.0% during the second quarter. Intact Investment Management Inc. now owns 93,100 shares of the company’s stock valued at $2,004,000 after purchasing an additional 11,400 shares during the last quarter. Aberdeen Asset Management PLC UK lifted its holdings in shares of Mattel by 43.8% during the second quarter. Aberdeen Asset Management PLC UK now owns 147,083 shares of the company’s stock valued at $3,167,000 after purchasing an additional 44,802 shares during the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of Mattel by 31.1% during the second quarter. State of Wisconsin Investment Board now owns 298,972 shares of the company’s stock valued at $6,437,000 after purchasing an additional 70,840 shares during the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of Mattel during the second quarter valued at $287,000. Finally, Penserra Capital Management LLC lifted its holdings in shares of Mattel by 26.6% during the second quarter. Penserra Capital Management LLC now owns 6,117 shares of the company’s stock valued at $131,000 after purchasing an additional 1,287 shares during the last quarter. 93.81% of the stock is owned by institutional investors and hedge funds.

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Shares of Mattel, Inc. (MAT) traded up 0.7428% during midday trading on Monday, reaching $15.6655. The company had a trading volume of 2,157,355 shares. Mattel, Inc. has a 52-week low of $14.35 and a 52-week high of $33.23. The firm has a market cap of $5.37 billion, a P/E ratio of 22.4756 and a beta of 0.86. The company’s 50-day moving average is $15.69 and its 200-day moving average is $20.39.

Mattel (NASDAQ:MAT) last posted its earnings results on Thursday, July 27th. The company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.05). The business had revenue of $974.50 million for the quarter, compared to the consensus estimate of $972.36 million. Mattel had a return on equity of 11.62% and a net margin of 4.51%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Equities research analysts expect that Mattel, Inc. will post $0.77 EPS for the current fiscal year.

Several brokerages have recently commented on MAT. DA Davidson reduced their target price on Mattel from $14.00 to $13.00 and set an “underperform” rating for the company in a report on Friday, September 22nd. UBS AG reaffirmed a “buy” rating and set a $23.00 target price on shares of Mattel in a report on Saturday, September 16th. BidaskClub raised Mattel from a “strong sell” rating to a “sell” rating in a report on Thursday, September 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $17.00 target price on shares of Mattel in a report on Thursday, September 7th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $19.00 price objective on shares of Mattel in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $24.12.

In other 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 bought at an average cost of $19.61 per share, for a total transaction of $248,262.60. Following the completion of the acquisition, the chief executive officer now directly owns 116,788 shares in the company, valued at approximately $2,290,212.68. The purchase was di

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intact Investment Management Inc. lifted its holdings in shares of Mattel by 14.0% during the second quarter. Intact Investment Management Inc. now owns 93,100 shares of the company’s stock valued at $2,004,000 after purchasing an additional 11,400 shares during the last quarter. Aberdeen Asset Management PLC UK lifted its holdings in shares of Mattel by 43.8% during the second quarter. Aberdeen Asset Management PLC UK now owns 147,083 shares of the company’s stock valued at $3,167,000 after purchasing an additional 44,802 shares during the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of Mattel by 31.1% during the second quarter. State of Wisconsin Investment Board now owns 298,972 shares of the company’s stock valued at $6,437,000 after purchasing an additional 70,840 shares during the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of Mattel during the second quarter valued at $287,000. Finally, Penserra Capital Management LLC lifted its holdings in shares of Mattel by 26.6% during the second quarter. Penserra Capital Management LLC now owns 6,117 shares of the company’s stock valued at $131,000 after purchasing an additional 1,287 shares during the last quarter. 93.81% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This news story was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://ledgergazette.com/2017/10/09/fairpointe-capital-llc-buys-1560624-shares-of-mattel-inc-mat.html.

Shares of Mattel, Inc. (MAT) traded up 0.7428% during midday trading on Monday, reaching $15.6655. The company had a trading volume of 2,157,355 shares. Mattel, Inc. has a 52-week low of $14.35 and a 52-week high of $33.23. The firm has a market cap of $5.37 billion, a P/E ratio of 22.4756 and a beta of 0.86. The company’s 50-day moving average is $15.69 and its 200-day moving average is $20.39.

Mattel (NASDAQ:MAT) last posted its earnings results on Thursday, July 27th. The company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.05). The business had revenue of $974.50 million for the quarter, compared to the consensus estimate of $972.36 million. Mattel had a return on equity of 11.62% and a net margin of 4.51%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Equities research analysts expect that Mattel, Inc. will post $0.77 EPS for the current fiscal year.

Several brokerages have recently commented on MAT. DA Davidson reduced their target price on Mattel from $14.00 to $13.00 and set an “underperform” rating for the company in a report on Friday, September 22nd. UBS AG reaffirmed a “buy” rating and set a $23.00 target price on shares of Mattel in a report on Saturday, September 16th. BidaskClub raised Mattel from a “strong sell” rating to a “sell” rating in a report on Thursday, September 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $17.00 target price on shares of Mattel in a report on Thursday, September 7th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $19.00 price objective on shares of Mattel in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $24.12.

In other 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 bought at an average cost of $19.61 per share, for a total transaction of $248,262.60. Following the completion of the acquisition, the chief executive officer now directly owns 116,788 shares in the company, valued at approximately $2,290,212.68. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Mattel 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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Institutional Ownership by Quarter for Mattel (NASDAQ:MAT)

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