Insider Buying: Lifetime Brands Inc. (LCUT) Major Shareholder Buys 1,919 Shares of Stock
Lifetime Brands Inc. (NASDAQ:LCUT) major shareholder Mill Road Capital Ii, L.P. bought 1,919 shares of Lifetime Brands stock in a transaction that occurred on Wednesday, September 21st. The stock was bought at an average price of $12.51 per share, with a total value of $24,006.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Mill Road Capital Ii, L.P. also recently made the following trade(s):
- On Tuesday, September 20th, Mill Road Capital Ii, L.P. purchased 5,308 shares of Lifetime Brands stock. The shares were acquired at an average price of $12.56 per share, with a total value of $66,668.48.
- On Monday, September 19th, Mill Road Capital Ii, L.P. purchased 2,820 shares of Lifetime Brands stock. The shares were acquired at an average price of $12.65 per share, with a total value of $35,673.00.
Shares of Lifetime Brands Inc. (NASDAQ:LCUT) traded down 0.24% on Wednesday, hitting $12.52. The stock had a trading volume of 11,871 shares. Lifetime Brands Inc. has a 52 week low of $11.29 and a 52 week high of $17.80. The stock’s 50-day moving average price is $13.24 and its 200 day moving average price is $14.57. The company has a market cap of $180.65 million, a PE ratio of 16.94 and a beta of 1.24.
Lifetime Brands (NASDAQ:LCUT) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Lifetime Brands had a return on equity of 6.91% and a net margin of 1.84%. The company earned $118.10 million during the quarter, compared to the consensus estimate of $123.35 million. During the same period in the prior year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts predict that Lifetime Brands Inc. will post $1.03 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be issued a $0.0425 dividend. The ex-dividend date is Friday, October 28th. This represents a $0.17 annualized dividend and a dividend yield of 1.36%. Lifetime Brands’s dividend payout ratio (DPR) is currently 22.97%.
Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Lifetime Brands by 97.8% in the second quarter. JPMorgan Chase & Co. now owns 357,380 shares of the company’s stock valued at $5,214,000 after buying an additional 176,700 shares during the period. Acadian Asset Management LLC increased its position in 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. Algert Global LLC increased its position in Lifetime Brands by 548.4% in the second quarter. Algert Global LLC now owns 74,720 shares of the company’s stock worth $1,090,000 after buying an additional 63,196 shares during the last quarter. Calvert Investment Management Inc. purchased a new position in Lifetime Brands during the second quarter worth about $709,000. Finally, Wellington Management Group LLP increased its position in Lifetime Brands by 2.6% in the first quarter. Wellington Management Group LLP now owns 1,929,389 shares of the company’s stock worth $29,075,000 after buying an additional 48,600 shares during the last quarter. Institutional investors own 57.53% 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.
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