Sprucegrove Investment Management Ltd Lowers stake in Mattel (MAT)

Mattel (MAT) : Sprucegrove Investment Management Ltd reduced its stake in Mattel by 2.72% during the most recent quarter end. The investment management company now holds a total of 1,514,500 shares of Mattel which is valued at $49,842,195 after selling 42,400 shares in Mattel , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Mattel makes up approximately 1.96% of Sprucegrove Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Guinness Asset Management Ltd boosted its stake in MAT in the latest quarter, The investment management firm added 31,860 additional shares and now holds a total of 175,410 shares of Mattel which is valued at $5,772,743. Mattel makes up approx 1.58% of Guinness Asset Management Ltd’s portfolio.Boyd Watterson Asset Managementoh reduced its stake in MAT by selling 118 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 19,778 shares of MAT which is valued at $645,356. Mattel makes up approx 0.31% of Boyd Watterson Asset Managementoh’s portfolio.Windward Capital Management Co Ca boosted its stake in MAT in the latest quarter, The investment management firm added 355 additional shares and now holds a total of 7,609 shares of Mattel which is valued at $248,282. Mattel makes up approx 0.05% of Windward Capital Management Co Ca’s portfolio. Hartford Financial Management sold out all of its stake in MAT during the most recent quarter. The investment firm sold 115 shares of MAT which is valued $3,790.

Mattel opened for trading at $32.94 and hit $33.439 on the upside on Friday, eventually ending the session at $33.38, with a gain of 1.00% or 0.33 points. The heightened volatility saw the trading volume jump to 24,94,120 shares. Company has a market cap of $11,364 M.

On the company’s financial health, Mattel reported $-0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $-0.06. The company had revenue of $957.30 million for the quarter, compared to analysts expectations of $936.69 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.01 EPS.

Investors should note that on Jul 20, 2016, Mattel announced a cash dividend of $0.3800. The company’s management has announced Aug 19, 2016 as the ex-dividend date and fixed the record date on Aug 23, 2016. The payable date has been fixed on Sep 16, 2016.

Many Wall Street Analysts have commented on Mattel. Company shares were Reiterated by MKM Partners on Jul 21, 2016 to “Neutral”, Firm has raised the Price Target to $ 36 from a previous price target of $33 .

MATTEL INC. designs manufactures and markets a variety of toy products around the world which are sold to its customers and directly to consumers. The Company operates through three segments: North America which consists of the United States and Canada International and American Girl. The Company’s North America segment markets and sells toys in the United States and Canada through the Mattel Girls & Boys Brands Fisher-Price Brands and Construction and Arts & Crafts Brands categories. The Company’s International segment products are developed and marketed by the North America segment although some are developed or adapted for particular international markets. The Company’s American Girl segment is a direct marketer children’s publisher and retailer for its line of historical dolls books and accessories as well as the My American Girl and Bitty Baby brands. American Girl also publishes Advice & Activity books and American Girl magazine.

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