Bank of New York Mellon Corp Has $1,152,000 Stake in Lifetime Brands Inc. (LCUT)
Bank of New York Mellon Corp boosted its position in Lifetime Brands Inc. (NASDAQ:LCUT) by 3.8% during the second quarter, Holdings Channel reports. The fund owned 78,906 shares of the company’s stock after buying an additional 2,899 shares during the period. Bank of New York Mellon Corp owned approximately 0.55% of Lifetime Brands worth $1,152,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Strs Ohio boosted its stake in shares of Lifetime Brands by 11.2% in the second quarter. Strs Ohio now owns 32,000 shares of the company’s stock worth $466,000 after buying an additional 3,230 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Lifetime Brands by 2.3% in the first quarter. Geode Capital Management LLC now owns 69,975 shares of the company’s stock worth $1,054,000 after buying an additional 1,588 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of Lifetime Brands by 0.3% in the second quarter. Foundry Partners LLC now owns 108,648 shares of the company’s stock worth $1,585,000 after buying an additional 325 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Lifetime Brands by 17.7% in the first quarter. Renaissance Technologies LLC now owns 111,500 shares of the company’s stock worth $1,680,000 after buying an additional 16,800 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Lifetime Brands by 645.1% in the second quarter. Acadian Asset Management LLC now owns 154,349 shares of the company’s stock worth $2,252,000 after buying an additional 133,634 shares during the last quarter. Institutional investors and hedge funds own 57.53% of the company’s stock.
Shares of Lifetime Brands Inc. (NASDAQ:LCUT) traded up 0.37% during mid-day trading on Friday, hitting $13.60. 9,980 shares of the stock were exchanged. The firm has a 50-day moving average price of $13.04 and a 200 day moving average price of $14.57. The company has a market capitalization of $196.23 million, a PE ratio of 18.40 and a beta of 1.24. Lifetime Brands Inc. has a 12-month low of $11.29 and a 12-month high of $17.80.
Lifetime Brands (NASDAQ:LCUT) last posted its earnings results on Tuesday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Lifetime Brands had a return on equity of 6.91% and a net margin of 1.84%. The business earned $118.10 million during the quarter, compared to analysts’ expectations of $123.35 million. During the same period in the prior year, the business earned ($0.04) EPS. Lifetime Brands’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities research analysts expect that Lifetime Brands Inc. will post $1.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be paid a dividend of $0.0425 per share. The ex-dividend date is Friday, October 28th. This represents a $0.17 annualized dividend and a dividend yield of 1.25%. Lifetime Brands’s dividend payout ratio is currently 22.97%.
In other Lifetime Brands news, major shareholder Mill Road Capital Ii, L.P. purchased 2,820 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was bought at an average cost of $12.65 per share, with a total value of $35,673.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 21.82% 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 has three business segments: U.S. Wholesale, which designs, markets and distributes its products to retailers and distributors; International, which operates certain business operations that are conducted outside the United States, and Retail Direct, which markets and sells a limited selection of its products through its Pfaltzgraff, Mikasa, Built NY, Fred & Friends and Lifetime Sterling Internet Websites.
Want to see what other hedge funds are holding LCUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lifetime Brands Inc. (NASDAQ:LCUT).
Receive News & Ratings for Lifetime Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lifetime Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.