Mengis Capital Management Inc. Lowers Holdings in Mattel, Inc. (NASDAQ:MAT)

Mengis Capital Management Inc. lowered its position in shares of Mattel, Inc. (NASDAQ:MAT) by 40.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,976 shares of the company’s stock after selling 11,000 shares during the period. Mengis Capital Management Inc.’s holdings in Mattel were worth $304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MAT. Pacer Advisors Inc. raised its stake in Mattel by 20,152.4% in the second quarter. Pacer Advisors Inc. now owns 10,995,234 shares of the company’s stock worth $178,783,000 after buying an additional 10,940,943 shares in the last quarter. LSV Asset Management bought a new position in shares of Mattel in the 2nd quarter worth $32,559,000. Dimensional Fund Advisors LP lifted its stake in shares of Mattel by 34.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,794,138 shares of the company’s stock worth $94,215,000 after purchasing an additional 1,479,227 shares during the last quarter. Millennium Management LLC boosted its position in Mattel by 92.5% during the second quarter. Millennium Management LLC now owns 2,456,754 shares of the company’s stock valued at $39,947,000 after purchasing an additional 1,180,301 shares in the last quarter. Finally, Capital International Investors grew its stake in Mattel by 4.6% in the first quarter. Capital International Investors now owns 19,231,375 shares of the company’s stock valued at $380,974,000 after purchasing an additional 845,368 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors.

Mattel Stock Performance

Shares of MAT stock opened at $18.84 on Wednesday. Mattel, Inc. has a 52-week low of $15.87 and a 52-week high of $20.59. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 1.01. The stock has a market cap of $6.35 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. The business has a 50-day simple moving average of $19.10 and a 200-day simple moving average of $18.38.

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com lowered shares of Mattel from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Bank of America increased their target price on shares of Mattel from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Morgan Stanley increased their price objective on Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Finally, DA Davidson restated a “buy” rating and set a $27.00 target price on shares of Mattel in a research note on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.75.

About Mattel

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.