Varma Mutual Pension Insurance Co Sells 73,300 Shares of Mattel, Inc. (NASDAQ:MAT)

Varma Mutual Pension Insurance Co reduced its stake in Mattel, Inc. (NASDAQ:MAT) by 52.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,700 shares of the company’s stock after selling 73,300 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Mattel were worth $1,085,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Capital International Investors lifted its stake in Mattel by 4.6% in the 1st quarter. Capital International Investors now owns 19,231,375 shares of the company’s stock worth $380,974,000 after purchasing an additional 845,368 shares in the last quarter. Ariel Investments LLC boosted its stake in Mattel by 0.7% during the first quarter. Ariel Investments LLC now owns 15,583,293 shares of the company’s stock valued at $308,705,000 after buying an additional 112,786 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Mattel by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,685,291 shares of the company’s stock valued at $231,487,000 after buying an additional 180,855 shares during the period. Dimensional Fund Advisors LP grew its position in Mattel by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,039,571 shares of the company’s stock worth $76,272,000 after buying an additional 716,558 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Mattel by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,927,553 shares of the company’s stock worth $74,152,000 after acquiring an additional 48,276 shares during the last quarter. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. DA Davidson reiterated a “buy” rating and set a $27.00 price target on shares of Mattel in a research report on Monday, July 22nd. StockNews.com upgraded shares of Mattel from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.63.

Mattel Stock Down 2.1 %

Shares of MAT opened at $18.59 on Wednesday. Mattel, Inc. has a 1 year low of $15.87 and a 1 year high of $22.30. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.58 and a quick ratio of 1.81. The stock has a 50 day simple moving average of $18.32 and a two-hundred day simple moving average of $18.41. The firm has a market cap of $6.32 billion, a P/E ratio of 22.40, a P/E/G ratio of 1.20 and a beta of 0.80.

Mattel (NASDAQ:MAT) last released its earnings results on Tuesday, July 23rd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.10 billion. Mattel had a net margin of 5.94% and a return on equity of 25.72%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. On average, analysts forecast that Mattel, Inc. will post 1.43 earnings per share for the current fiscal year.

Mattel 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.