Insider Buying: Lifetime Brands Inc. (LCUT) Major Shareholder Purchases 5,308 Shares of Stock
Lifetime Brands Inc. (NASDAQ:LCUT) major shareholder Mill Road Capital Ii, L.P. acquired 5,308 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were bought at an average price of $12.56 per share, with a total value of $66,668.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Mill Road Capital Ii, L.P. also recently made the following trade(s):
- On Wednesday, September 21st, Mill Road Capital Ii, L.P. acquired 1,919 shares of Lifetime Brands stock. The shares were bought at an average price of $12.51 per share, with a total value of $24,006.69.
- On Monday, September 19th, Mill Road Capital Ii, L.P. acquired 2,820 shares of Lifetime Brands stock. The shares were bought at an average price of $12.65 per share, with a total value of $35,673.00.
Lifetime Brands Inc. (NASDAQ:LCUT) traded down 0.24% during trading on Wednesday, reaching $12.52. 11,871 shares of the company were exchanged. The firm’s 50-day moving average is $13.24 and its 200 day moving average is $14.57. Lifetime Brands Inc. has a one year low of $11.29 and a one year high of $17.80. The company has a market capitalization of $180.65 million, a P/E ratio of 16.94 and a beta of 1.24.
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Lifetime Brands (NASDAQ:LCUT) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $118.10 million for the quarter, compared to analysts’ expectations of $123.35 million. Lifetime Brands had a net margin of 1.84% and a return on equity of 6.91%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) earnings per share. On average, analysts anticipate that Lifetime Brands Inc. will post $1.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st will be issued a $0.0425 dividend. This represents a $0.17 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, October 28th. Lifetime Brands’s dividend payout ratio (DPR) is currently 22.97%.
Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Lifetime Brands by 97.8% in the second quarter. JPMorgan Chase & Co. now owns 357,380 shares of the company’s stock valued at $5,214,000 after buying an additional 176,700 shares during the period. Acadian Asset Management LLC boosted its stake in Lifetime Brands by 645.1% in the second quarter. Acadian Asset Management LLC now owns 154,349 shares of the company’s stock valued at $2,252,000 after buying an additional 133,634 shares during the period. Algert Global LLC boosted its stake in Lifetime Brands by 548.4% in the second quarter. Algert Global LLC now owns 74,720 shares of the company’s stock valued at $1,090,000 after buying an additional 63,196 shares during the period. Calvert Investment Management Inc. bought a new stake in Lifetime Brands during the second quarter valued at $709,000. Finally, Wellington Management Group LLP boosted its stake in Lifetime Brands by 2.6% in the first quarter. Wellington Management Group LLP now owns 1,929,389 shares of the company’s stock valued at $29,075,000 after buying an additional 48,600 shares during the period. Institutional investors and hedge funds own 57.53% 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 has three business segments: U.S. Wholesale, which designs, markets and distributes its products to retailers and distributors; International, which operates certain business operations that are conducted outside the United States, and Retail Direct, which markets and sells a limited selection of its products through its Pfaltzgraff, Mikasa, Built NY, Fred & Friends and Lifetime Sterling Internet Websites.
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