Vanguard Group Inc. grew its holdings in shares of Lifetime Brands, Inc. (NASDAQ:LCUT) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 366,460 shares of the company’s stock after buying an additional 22,217 shares during the period. Vanguard Group Inc. owned 2.52% of Lifetime Brands worth $7,366,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. ClariVest Asset Management LLC bought a new position in Lifetime Brands in the 1st quarter worth about $115,000. American International Group Inc. boosted its stake in Lifetime Brands by 7.1% in the 1st quarter. American International Group Inc. now owns 6,802 shares of the company’s stock worth $137,000 after purchasing an additional 449 shares in the last quarter. Teachers Advisors LLC boosted its stake in Lifetime Brands by 9.7% in the 4th quarter. Teachers Advisors LLC now owns 16,979 shares of the company’s stock worth $301,000 after purchasing an additional 1,502 shares in the last quarter. Martingale Asset Management L P boosted its stake in Lifetime Brands by 36.4% in the 1st quarter. Martingale Asset Management L P now owns 16,109 shares of the company’s stock worth $324,000 after purchasing an additional 4,301 shares in the last quarter. Finally, S. Muoio & CO. LLC bought a new position in Lifetime Brands in the 1st quarter worth about $353,000. Institutional investors own 57.15% of the company’s stock.
LCUT has been the topic of a number of analyst reports. BidaskClub upgraded shares of Lifetime Brands from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 11th. Sidoti upgraded shares of Lifetime Brands from a “neutral” rating to a “buy” rating in a research note on Friday, May 26th.
Shares of Lifetime Brands, Inc. (LCUT) traded down 0.57% during trading on Wednesday, reaching $17.55. The company’s stock had a trading volume of 2,293 shares. The firm’s 50-day moving average is $17.53 and its 200-day moving average is $18.41. Lifetime Brands, Inc. has a 12-month low of $12.03 and a 12-month high of $21.20. The stock has a market capitalization of $259.70 million, a PE ratio of 14.58 and a beta of 1.03.
Lifetime Brands (NASDAQ:LCUT) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.11). The business had revenue of $117.40 million during the quarter, compared to analyst estimates of $121.59 million. Lifetime Brands had a return on equity of 10.27% and a net margin of 2.99%. Lifetime Brands’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 EPS. Equities analysts expect that Lifetime Brands, Inc. will post $1.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a $0.0425 dividend. This represents a $0.17 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Tuesday, October 31st. Lifetime Brands’s payout ratio is 14.05%.
In related news, Vice Chairman Ronald Shiftan sold 4,480 shares of Lifetime Brands stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $16.92, for a total transaction of $75,801.60. Following the completion of the transaction, the insider now directly owns 130,823 shares in the company, valued at $2,213,525.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 21.25% of the company’s stock.
About Lifetime Brands
Lifetime Brands, Inc designs, sources and sells branded kitchenware, tableware and other products used in the home. The Company operates through three segments: U.S. Wholesale, International and Retail Direct. In the U.S. Wholesale segment, the Company designs, markets and distributes its products to retailers and distributors.
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