Brown Advisory Inc. Sells 12,938 Shares of Lifetime Brands Inc (LCUT)
Brown Advisory Inc. decreased its holdings in Lifetime Brands Inc (NASDAQ:LCUT) by 3.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 395,357 shares of the company’s stock after selling 12,938 shares during the quarter. Brown Advisory Inc.’s holdings in Lifetime Brands were worth $4,309,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its position in Lifetime Brands by 15.2% during the 2nd quarter. BlackRock Inc. now owns 850,187 shares of the company’s stock worth $10,754,000 after purchasing an additional 111,957 shares in the last quarter. Rhumbline Advisers purchased a new position in Lifetime Brands during the 2nd quarter worth approximately $150,000. Northern Trust Corp grew its position in Lifetime Brands by 20.0% during the 2nd quarter. Northern Trust Corp now owns 149,815 shares of the company’s stock worth $1,896,000 after purchasing an additional 24,996 shares in the last quarter. Olstein Capital Management L.P. grew its position in Lifetime Brands by 15.3% during the 2nd quarter. Olstein Capital Management L.P. now owns 204,200 shares of the company’s stock worth $2,583,000 after purchasing an additional 27,050 shares in the last quarter. Finally, Teton Advisors Inc. grew its position in Lifetime Brands by 67.1% during the 3rd quarter. Teton Advisors Inc. now owns 141,451 shares of the company’s stock worth $1,542,000 after purchasing an additional 56,803 shares in the last quarter. Hedge funds and other institutional investors own 46.48% of the company’s stock.
NASDAQ LCUT opened at $12.25 on Thursday. Lifetime Brands Inc has a twelve month low of $9.00 and a twelve month high of $19.25. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.38 and a current ratio of 3.09. The company has a market cap of $247.90 million, a price-to-earnings ratio of 17.25 and a beta of 1.02.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, February 1st will be given a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a yield of 1.39%. The ex-dividend date is Thursday, January 31st. Lifetime Brands’s payout ratio is 23.94%.
In related news, major shareholder Centre Partners V, L.P. purchased 7,960 shares of the stock in a transaction dated Wednesday, November 14th. The shares were acquired at an average cost of $10.37 per share, for a total transaction of $82,545.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have acquired 24,473 shares of company stock worth $257,842. Corporate insiders own 41.70% of the company’s stock.
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About Lifetime Brands
Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the United States and internationally. The company operates through three segments: U.S. Wholesale, International, and Retail Direct. It offers kitchenware products, including kitchen tools and gadgets, cutlery, cutting boards, shears, cookware, pantry ware, spice racks, and bakeware, as well as novelty kitchen tools, tableware accessories, party goods, personal accessories, and other products; and tableware products comprising dinnerware, stemware, flatware, and giftware.
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