Retirement Systems of Alabama Lowers Holdings in Mattel, Inc. (NASDAQ:MAT)

Retirement Systems of Alabama reduced its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 412,897 shares of the company’s stock after selling 11,806 shares during the period. Retirement Systems of Alabama owned 0.12% of Mattel worth $7,866,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Barington Capital Group L.P. raised its stake in Mattel by 25.3% during the second quarter. Barington Capital Group L.P. now owns 595,000 shares of the company’s stock worth $9,675,000 after purchasing an additional 120,000 shares during the period. Citigroup Inc. increased its holdings in shares of Mattel by 449.9% during the 3rd quarter. Citigroup Inc. now owns 291,983 shares of the company’s stock worth $5,562,000 after buying an additional 238,884 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Mattel in the 3rd quarter worth $1,003,000. Charles Schwab Investment Management Inc. boosted 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 valued at $81,222,000 after acquiring an additional 114,305 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Mattel during the second quarter valued at about $312,000. 97.15% of the stock is owned by institutional investors and hedge funds.

Mattel Stock Performance

Mattel stock opened at $18.66 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.45 and a quick ratio of 1.88. The firm’s fifty day moving average price is $19.05 and its 200 day moving average price is $18.49. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 0.99 and a beta of 0.76. Mattel, Inc. has a 12-month low of $15.87 and a 12-month high of $20.59.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MAT. Jefferies Financial Group raised their price objective on Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, October 1st. Morgan Stanley raised their price target on shares of Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. DA Davidson reiterated a “buy” rating and set a $27.00 price objective on shares of Mattel in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on shares of Mattel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, Bank of America upped their price target 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. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.75.

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.