Norges Bank Takes Position in Mattel, Inc. (NASDAQ:MAT)

Norges Bank purchased a new stake in Mattel, Inc. (NASDAQ:MAT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,098,061 shares of the company's stock, valued at approximately $54,929,000. Norges Bank owned approximately 0.92% of Mattel at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Mattel by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 33,134,174 shares of the company's stock valued at $587,469,000 after acquiring an additional 355,769 shares during the period. State Street Corp lifted its position in shares of Mattel by 3.1% during the third quarter. State Street Corp now owns 10,517,270 shares of the company's stock worth $200,354,000 after purchasing an additional 318,125 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Mattel by 84.0% during the third quarter. Franklin Resources Inc. now owns 9,352,223 shares of the company's stock worth $176,757,000 after purchasing an additional 4,270,162 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Mattel by 0.3% in the third quarter. Geode Capital Management LLC now owns 6,134,691 shares of the company's stock valued at $116,896,000 after purchasing an additional 17,309 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Mattel by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,390,675 shares of the company's stock valued at $77,847,000 after purchasing an additional 127,064 shares in the last quarter. Institutional investors and hedge funds own 97.15% of the company's stock.

Mattel Trading Down 6.9 %

NASDAQ:MAT traded down $1.09 on Tuesday, hitting $14.69. 5,596,974 shares of the stock were exchanged, compared to its average volume of 3,477,263. The stock has a fifty day moving average of $20.03 and a 200-day moving average of $19.19. The stock has a market cap of $4.74 billion, a PE ratio of 9.18, a PEG ratio of 2.35 and a beta of 0.51. The company has a current ratio of 2.38, a quick ratio of 2.00 and a debt-to-equity ratio of 1.03. Mattel, Inc. has a fifty-two week low of $14.57 and a fifty-two week high of $22.07.

Mattel (NASDAQ:MAT - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.35 earnings per share for the quarter, beating 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 last year, the business posted $0.29 EPS. As a group, equities analysts expect that Mattel, Inc. will post 1.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Jefferies Financial Group upgraded Mattel from a "hold" rating to a "buy" rating and lifted their price objective for the company from $20.00 to $28.00 in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Mattel from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. DA Davidson raised their price objective on shares of Mattel from $27.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Finally, Morgan Stanley lifted their price objective on shares of Mattel from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.57.

Mattel Company 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.