California Public Employees Retirement System Has $465,000 Holdings in Lifetime Brands, Inc. (LCUT)
California Public Employees Retirement System continued to hold its stake in shares of Lifetime Brands, Inc. (NASDAQ:LCUT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,600 shares of the company’s stock at the end of the 2nd quarter. California Public Employees Retirement System owned about 0.18% of Lifetime Brands worth $465,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Lifetime Brands by 11.4% in the first quarter. Geode Capital Management LLC now owns 91,809 shares of the company’s stock worth $1,845,000 after acquiring an additional 9,364 shares during the period. Vanguard Group Inc. grew its holdings in Lifetime Brands by 6.5% during the first quarter. Vanguard Group Inc. now owns 366,460 shares of the company’s stock valued at $7,366,000 after purchasing an additional 22,217 shares during the period. Bank of America Corp DE grew its holdings in Lifetime Brands by 2.5% during the first quarter. Bank of America Corp DE now owns 19,766 shares of the company’s stock valued at $397,000 after purchasing an additional 477 shares during the period. Northern Trust Corp grew its holdings in Lifetime Brands by 28.5% during the second quarter. Northern Trust Corp now owns 493,763 shares of the company’s stock valued at $8,961,000 after purchasing an additional 109,478 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Lifetime Brands by 7.4% during the second quarter. JPMorgan Chase & Co. now owns 381,560 shares of the company’s stock valued at $6,925,000 after purchasing an additional 26,360 shares during the period. 56.58% of the stock is owned by institutional investors.
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In other news, Director Craig Phillips sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $19.11, for a total value of $143,325.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Ronald Shiftan sold 4,480 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $16.92, for a total value of $75,801.60. Following the completion of the transaction, the insider now directly owns 130,823 shares of the company’s stock, valued at approximately $2,213,525.16. The disclosure for this sale can be found here. Insiders have sold 13,880 shares of company stock valued at $251,446 in the last three months. 21.82% of the stock is currently owned by corporate insiders.
Shares of Lifetime Brands, Inc. (LCUT) opened at $16.95 on Thursday. Lifetime Brands, Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $21.20. The company has a current ratio of 3.31, a quick ratio of 1.43 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $249.65, a PE ratio of 13.59 and a beta of 0.99.
Lifetime Brands (NASDAQ:LCUT) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.30). Lifetime Brands had a net margin of 2.65% and a return on equity of 9.12%. The company had revenue of $165.96 million for the quarter, compared to the consensus estimate of $173.53 million. During the same period in the prior year, the firm posted $0.52 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be issued a dividend of $0.043 per share. This represents a $0.17 annualized dividend and a yield of 1.01%. The ex-dividend date is Wednesday, January 31st. This is a positive change from Lifetime Brands’s previous quarterly dividend of $0.04. Lifetime Brands’s payout ratio is currently 16.04%.
Separately, BidaskClub lowered Lifetime Brands from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st.
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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