Public Employees Retirement System of Ohio Reduces Stake in Mattel, Inc. (NASDAQ:MAT)

Public Employees Retirement System of Ohio cut its holdings in shares of Mattel, Inc. (NASDAQ:MAT) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 127,343 shares of the company’s stock after selling 7,288 shares during the period. Public Employees Retirement System of Ohio’s holdings in Mattel were worth $2,426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barington Capital Group L.P. increased its position in Mattel by 25.3% during the 2nd quarter. Barington Capital Group L.P. now owns 595,000 shares of the company’s stock valued at $9,675,000 after purchasing an additional 120,000 shares during the period. Citigroup Inc. increased its position in shares of Mattel by 449.9% during the third quarter. Citigroup Inc. now owns 291,983 shares of the company’s stock valued at $5,562,000 after buying an additional 238,884 shares during the period. FORA Capital LLC bought a new position in Mattel in the third quarter worth about $1,003,000. Charles Schwab Investment Management Inc. lifted its holdings in Mattel by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,263,611 shares of the company’s stock worth $81,222,000 after buying an additional 114,305 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Mattel during the 2nd quarter valued at approximately $312,000. Institutional investors own 97.15% of the company’s stock.

Analysts Set New Price Targets

MAT has been the subject of a number of research analyst reports. StockNews.com cut Mattel from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Jefferies Financial Group raised their price objective on Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, October 1st. Bank of America upped their target price on shares of Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. DA Davidson reissued a “buy” rating and set a $27.00 price target on shares of Mattel in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.75.

Mattel Price Performance

MAT opened at $18.66 on Wednesday. The company’s 50-day simple moving average is $19.05 and its two-hundred day simple moving average is $18.49. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.88 and a current ratio of 2.45. The stock has a market capitalization of $6.29 billion, a P/E ratio of 11.66, a P/E/G ratio of 0.99 and a beta of 0.76. Mattel, Inc. has a 52-week low of $15.87 and a 52-week high of $20.59.

Mattel (NASDAQ:MAT) last issued its earnings results on Wednesday, October 23rd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.19. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Mattel had a net margin of 10.24% and a return on equity of 25.39%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company posted $1.08 earnings per share. As a group, analysts predict that Mattel, Inc. will post 1.46 EPS for the current year.

Mattel Company Profile

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.