The Market is Fun and Games for Mattel

Mattel

has been helping to spread joy to children around the world for decades. On Tuesday morning, the largest toy maker in the world received a little bit of joy of its own after news came in that it rose the most in six months. This followed the news that it had increased its dividend and reported 4Q profits that beat the estimates. According to

, shares in MAT shot up 5.7 percent to $31.21 in New York on Tuesday morning. Earlier, those shares were at $31.40, resulting in the biggest intraday gain since July 15 and, more significantly, the highest stock price since December 1998. Mattel's major brands continue to include classics like Barbie, PollyPocket, Hot Wheels and Matchbox, plus trendy new brands like Monster High, Fijit Friends and Battle Force 5. Mattel has always been known for producing quality toys, keeping on top of children's fashions and buzzes, and knowing their consumers. Bloomberg reported that Mattel's quarterly dividend was boosted by 35 percent to 31 cents per share from 23 cents. MAT said in a statement that net income for the quarter that eneded at the end of 2011 rose 14 percent to $370.6 million, or $1.07 a share, from $325 million, or 89 cents, the previous year. The only downside to the rise in profits was the news that sales in North America fell 2 percent, and that includes during the holiday period. Still, Mattel is looking to acquire Hit Entertainment, the company behind Bob the Builder, and that deal is expected to conclude on Wednesday. Bob the Builder is a popular and established brand, and MAT will be hoping that he provides a further boost in 2012.