Bank of America Corp DE Purchases 477 Shares of Lifetime Brands, Inc. (LCUT)
Bank of America Corp DE boosted its stake in shares of Lifetime Brands, Inc. (NASDAQ:LCUT) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,766 shares of the company’s stock after buying an additional 477 shares during the period. Bank of America Corp DE owned approximately 0.14% of Lifetime Brands worth $397,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ClariVest Asset Management LLC purchased a new position in Lifetime Brands during the first quarter valued at approximately $115,000. American International Group Inc. increased its stake in shares of Lifetime Brands by 7.1% in the first quarter. American International Group Inc. now owns 6,802 shares of the company’s stock worth $137,000 after buying an additional 449 shares during the period. Martingale Asset Management L P increased its stake in shares of Lifetime Brands by 36.4% in the first quarter. Martingale Asset Management L P now owns 16,109 shares of the company’s stock worth $324,000 after buying an additional 4,301 shares during the period. Teachers Advisors LLC increased its stake in shares of Lifetime Brands by 9.7% in the fourth quarter. Teachers Advisors LLC now owns 16,979 shares of the company’s stock worth $301,000 after buying an additional 1,502 shares during the period. Finally, S. Muoio & CO. LLC bought a new stake in shares of Lifetime Brands during the first quarter worth about $353,000. 57.15% of the stock is owned by hedge funds and other institutional investors.
Shares of Lifetime Brands, Inc. (LCUT) traded up 0.30% during mid-day trading on Tuesday, hitting $16.95. The company’s stock had a trading volume of 7,889 shares. Lifetime Brands, Inc. has a 12-month low of $12.03 and a 12-month high of $21.20. The company has a market cap of $250.83 million, a PE ratio of 14.08 and a beta of 0.98. The stock has a 50-day moving average of $18.19 and a 200-day moving average of $18.18.
Lifetime Brands (NASDAQ:LCUT) last released its quarterly earnings data 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 company had revenue of $117.40 million for the quarter, compared to the consensus estimate of $121.59 million. Lifetime Brands had a return on equity of 10.27% and a net margin of 2.99%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. On average, equities research analysts forecast that Lifetime Brands, Inc. will post $1.32 EPS for the current year.
The business 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 dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, October 31st. Lifetime Brands’s dividend payout ratio is presently 14.05%.
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A number of analysts have issued reports on LCUT shares. BidaskClub raised Lifetime Brands from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 11th. Sidoti raised Lifetime Brands from a “neutral” rating to a “buy” rating in a research note on Friday, May 26th.
In other news, Vice Chairman Ronald Shiftan sold 4,480 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 130,823 shares of the company’s stock, valued at approximately $2,213,525.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 21.25% of the company’s stock.
Lifetime Brands Company Profile
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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