JPMorgan Chase & Co. Raises Stake in Lifetime Brands, Inc. (LCUT)
JPMorgan Chase & Co. lifted its position in Lifetime Brands, Inc. (NASDAQ:LCUT) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 381,560 shares of the company’s stock after buying an additional 26,360 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.62% of Lifetime Brands worth $6,925,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Clark Estates Inc. NY acquired a new position in Lifetime Brands during the 2nd quarter worth about $3,169,000. Renaissance Technologies LLC boosted its stake in shares of Lifetime Brands by 52.2% in the first quarter. Renaissance Technologies LLC now owns 213,100 shares of the company’s stock valued at $4,283,000 after purchasing an additional 73,100 shares during the period. Algert Global LLC boosted its stake in shares of Lifetime Brands by 84.3% in the second quarter. Algert Global LLC now owns 96,973 shares of the company’s stock valued at $1,760,000 after purchasing an additional 44,348 shares during the period. ClariVest Asset Management LLC boosted its stake in shares of Lifetime Brands by 693.6% in the second quarter. ClariVest Asset Management LLC now owns 45,688 shares of the company’s stock valued at $830,000 after purchasing an additional 39,931 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Lifetime Brands by 6.5% in 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. Hedge funds and other institutional investors own 57.15% of the company’s stock.
Shares of Lifetime Brands, Inc. (LCUT) opened at 18.75 on Tuesday. The company’s 50 day moving average is $17.36 and its 200-day moving average is $18.63. The stock has a market capitalization of $277.46 million, a price-to-earnings ratio of 15.57 and a beta of 1.02. Lifetime Brands, Inc. has a 1-year low of $12.55 and a 1-year high of $21.20.
Lifetime Brands (NASDAQ:LCUT) last released its quarterly 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 company had revenue of $117.40 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. Equities analysts anticipate that Lifetime Brands, Inc. will post $1.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a $0.0425 dividend. This represents a $0.17 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, October 31st. Lifetime Brands’s dividend payout ratio (DPR) is 14.05%.
WARNING: “JPMorgan Chase & Co. Raises Stake in Lifetime Brands, Inc. (LCUT)” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/jpmorgan-chase-co-raises-stake-in-lifetime-brands-inc-lcut/1604594.html.
Separately, BidaskClub cut shares of Lifetime Brands from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st.
In other news, Vice Chairman Ronald Shiftan sold 4,480 shares of Lifetime Brands stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $16.92, for a total transaction of $75,801.60. Following the sale, the insider now owns 130,823 shares in the company, valued at $2,213,525.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.25% of the stock is owned by company insiders.
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.
Want to see what other hedge funds are holding LCUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lifetime Brands, Inc. (NASDAQ:LCUT).
Receive News & Ratings for Lifetime Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lifetime Brands Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.