Geode Capital Management LLC Buys 9,364 Shares of Lifetime Brands, Inc. (LCUT)
Geode Capital Management LLC increased its position in shares of Lifetime Brands, Inc. (NASDAQ:LCUT) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,809 shares of the company’s stock after buying an additional 9,364 shares during the period. Geode Capital Management LLC owned 0.63% of Lifetime Brands worth $1,845,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC bought a new position in Lifetime Brands during the first quarter worth about $115,000. American International Group Inc. raised its position in 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 raised its position in 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 raised its position in 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 position in Lifetime Brands during the first quarter worth about $353,000. Hedge funds and other institutional investors own 57.15% of the company’s stock.
Lifetime Brands, Inc. (LCUT) traded up 0.146% on Wednesday, reaching $17.175. The company had a trading volume of 3,934 shares. The stock’s 50-day moving average price is $18.19 and its 200 day moving average price is $18.18. Lifetime Brands, Inc. has a 52-week low of $12.03 and a 52-week high of $21.20. The firm has a market capitalization of $254.16 million, a price-to-earnings ratio of 14.265 and a beta of 0.98.
Lifetime Brands (NASDAQ:LCUT) last announced its earnings results on Tuesday, August 8th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.06 by $0.11. The firm had revenue of $117.40 million during 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 quarter last year, the business earned $0.01 EPS. On average, equities analysts anticipate that Lifetime Brands, Inc. will post $1.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be issued a $0.0425 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $0.17 annualized dividend and a yield of 0.99%. Lifetime Brands’s dividend payout ratio (DPR) is presently 14.05%.
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A number of research analysts recently issued reports on the company. BidaskClub lowered Lifetime Brands from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Sidoti upgraded Lifetime Brands from a “neutral” rating to a “buy” rating in a report on Friday, May 26th.
In related news, Vice Chairman Ronald Shiftan sold 4,480 shares of Lifetime Brands stock in a transaction on Monday, August 28th. The shares were sold at an average price of $16.92, for a total value of $75,801.60. Following the transaction, the insider now owns 130,823 shares in the company, valued at approximately $2,213,525.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.25% 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 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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