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Mattel: Mattel Stock
built 237 days ago
The toy group of Mattel Inc. ( MAT ), Hasboro Inc. ( HAS ) and JAKKS Pacific Inc. ( JAKK ) is "dirt cheap" according to Jim. HAS has been buying back a lot of stock as well and JAKK is the cheapest on momentum. Headlines have helped ... with them. Cramer moved to energy and recommended natural gas as the "fuel of the future." When oil gets to $100 it is a great play. ) were plays pointed to.
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A share of Mattel Stock is a must for every Barbie collector, or lover of classic toys. It would not be long shot to say that every child owned or played with a Mattel product. With flagship toys such as Barbie and Hot Wheels, Mattel is the world’s largest toymaker.
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By 1987 Mattel suffered a $113 million loss when the market for its Masters of the Universe toy line for boys evaporated. As a result of Mattel's troubles, its stock plummeted from 1982's peak of $30 per share to just $10 per share in 1987. But the company's fortunes took a dramatic upswing when John W. Amerman, who had joined the company in 1980 as head of the international division, was named chairman. Under his direction the division's sales had quadrupled, far outpacing the profitability of Mattel's domestic operations. In his new role, Amerman moved quickly to cut Mattel's overhead by closing 40 percent of the company's manufacturing capacity, including plants in California, Taiwan, and the Philippines. He slashed the payroll by 150 at Mattel's corporate headquarters in California, saving an estimated $30 million annually.
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Mattel Inc (MAT) opened at $21.31. So far today the stock has hit a low of $21.08 and a high of $22.07. MAT is now trading at $21.28, up 0.78 (3.80%). After hitting a one-year high of $29.71 in April, the stock hit a one-year low of 20.27 on Friday. A Barron's analyst on Sunday forecast that as the recent toy recall crisis subsides and investors gain confidence, Mattel stock should make considerable gains. The analyst predicted that Mattel stock could rebound as much as 50%.
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At the dawn of the 1970s, Mattel still was gobbling up other companies, such as Ringling Bros., Barnum & Bailey Circus and others. But the good times soon soured. In 1970 Mattel's plant in Mexico was destroyed by fire, and the following year a shipyard strike in the Far East cut off its toy supplies. To maintain the appearance of corporate growth, Seymour Rosenberg, executive vice-president and chief financial officer, fixed the books by reporting orders as sales, although many of the orders had been canceled and shipments had not been made. For two years Mattel issued false and misleading financial reports, until 1973, when the company reported a $32 million loss just three weeks after stockholders had been assured that the company was in sound financial condition. Mattel's stock plummeted and the Security and Exchange Commission (SEC) stepped in to investigate.
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Mattel's stock fell 57 cents yesterday, or 2.4 percent, to $23 a share, even as the company launched a major public-relations offensive, including publishing full-page ads in several newspapers. The company will be under scrutiny during the short term but can regain consumer confidence by following through on tighter controls, said Chris Byrne, an independent toy industry consultant. "Clearly the systems that have worked well in the past don't work well anymore," he said.
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