State of Michigan Retirement System Trims Holdings in Mattel, Inc. (NASDAQ:MAT)

State of Michigan Retirement System reduced its stake in Mattel, Inc. (NASDAQ:MAT) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,733 shares of the company’s stock after selling 1,000 shares during the quarter. State of Michigan Retirement System’s holdings in Mattel were worth $1,414,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MAT. CIBC Asset Management Inc increased its position in Mattel by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 10,962 shares of the company’s stock worth $194,000 after purchasing an additional 601 shares during the last quarter. Clear Harbor Asset Management LLC grew its stake in shares of Mattel by 5.5% in the 4th quarter. Clear Harbor Asset Management LLC now owns 12,918 shares of the company’s stock valued at $229,000 after buying an additional 675 shares during the period. GAMMA Investing LLC increased its holdings in shares of Mattel by 26.6% during the 4th quarter. GAMMA Investing LLC now owns 3,541 shares of the company’s stock worth $63,000 after buying an additional 744 shares during the last quarter. KBC Group NV raised its position in shares of Mattel by 13.8% during the 3rd quarter. KBC Group NV now owns 10,166 shares of the company’s stock valued at $194,000 after buying an additional 1,229 shares during the period. Finally, US Bancorp DE lifted its holdings in Mattel by 7.1% in the third quarter. US Bancorp DE now owns 21,096 shares of the company’s stock valued at $402,000 after acquiring an additional 1,400 shares during the last quarter. 97.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAT has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Mattel from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. DA Davidson raised their price objective on Mattel from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Jefferies Financial Group raised shares of Mattel from a “hold” rating to a “buy” rating and upped their target price for the company from $20.00 to $28.00 in a research report on Wednesday, February 5th. Finally, StockNews.com cut shares of Mattel from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Mattel currently has an average rating of “Moderate Buy” and a consensus price target of $25.57.

Mattel Stock Performance

NASDAQ MAT opened at $21.00 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.38 and a quick ratio of 2.00. The company has a market cap of $7.00 billion, a P/E ratio of 13.13, a P/E/G ratio of 2.35 and a beta of 0.65. The stock has a 50-day moving average of $19.64 and a two-hundred day moving average of $19.20. Mattel, Inc. has a 1-year low of $15.87 and a 1-year high of $22.07.

Mattel (NASDAQ:MAT) last announced its earnings results on Tuesday, February 4th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.15. Mattel had a net margin of 10.07% and a return on equity of 25.94%. During the same quarter in the prior year, the company posted $0.29 EPS. As a group, analysts anticipate that Mattel, Inc. will post 1.7 EPS for the current year.

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.