Lapides Asset Management Lowers stake in Mattel (MAT)

Mattel (MAT) : Lapides Asset Management reduced its stake in Mattel by 3.46% during the most recent quarter end. The investment management company now holds a total of 239,600 shares of Mattel which is valued at $8,175,152 after selling 8,600 shares in Mattel , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Mattel makes up approximately 1.34% of Lapides Asset Management’s portfolio.

Other Hedge Funds, Including , Columbia Asset Management reduced its stake in MAT by selling 2,959 shares or 4.21% in the most recent quarter. The Hedge Fund company now holds 67,280 shares of MAT which is valued at $2,295,594. Mattel makes up approx 0.79% of Columbia Asset Management’s portfolio.New Mexico Educational Retirement Board boosted its stake in MAT in the latest quarter, The investment management firm added 2,100 additional shares and now holds a total of 39,648 shares of Mattel which is valued at $1,297,679. Mattel makes up approx 0.06% of New Mexico Educational Retirement Board’s portfolio.Capital Fund Management S.a. reduced its stake in MAT by selling 347,212 shares or 63.89% in the most recent quarter. The Hedge Fund company now holds 196,218 shares of MAT which is valued at $6,457,534. Mattel makes up approx 0.11% of Capital Fund Management S.a.’s portfolio.Willingdon Wealth Management boosted its stake in MAT in the latest quarter, The investment management firm added 62,288 additional shares and now holds a total of 104,878 shares of Mattel which is valued at $3,435,803. Mattel makes up approx 1.70% of Willingdon Wealth Management’s portfolio.Atria Investments boosted its stake in MAT in the latest quarter, The investment management firm added 5,764 additional shares and now holds a total of 18,765 shares of Mattel which is valued at $623,749. Mattel makes up approx 0.07% of Atria Investments’s portfolio.

Mattel closed down -0.04 points or -0.12% at $34.02 with 20,08,310 shares getting traded on Monday. Post opening the session at $34.02, the shares hit an intraday low of $33.89 and an intraday high of $34.2 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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