Martin & Co. Inc. TN purchased a new stake in shares of Lifetime Brands, Inc. (NASDAQ:LCUT – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 445,347 shares of the company’s stock, valued at approximately $3,799,000.
Other large investors also recently added to or reduced their stakes in the company. JB Capital Partners LP purchased a new position in shares of Lifetime Brands during the 2nd quarter worth $13,820,463,000. BlackRock Inc. purchased a new position in shares of Lifetime Brands during the 2nd quarter valued at about $8,092,000. Ameriprise Financial Inc. grew its stake in shares of Lifetime Brands by 16.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 908,722 shares of the company’s stock valued at $4,634,000 after acquiring an additional 130,650 shares during the period. Walleye Capital LLC bought a new stake in Lifetime Brands during the 2nd quarter worth approximately $444,000. Finally, Jane Street Group LLC lifted its holdings in Lifetime Brands by 388.4% during the fourth quarter. Jane Street Group LLC now owns 51,795 shares of the company’s stock valued at $205,000 after purchasing an additional 41,191 shares in the last quarter. 40.62% of the stock is currently owned by institutional investors.
Lifetime Brands Stock Down 1.4%
NASDAQ LCUT opened at $9.17 on Friday. The stock has a 50 day moving average price of $8.68 and a 200-day moving average price of $6.86. Lifetime Brands, Inc. has a one year low of $2.90 and a one year high of $10.17. The company has a market capitalization of $210.82 million, a P/E ratio of 6.41, a P/E/G ratio of 0.32 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 2.11.
Lifetime Brands Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.0425 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.17 dividend on an annualized basis and a dividend yield of 1.9%. Lifetime Brands’s payout ratio is 11.89%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. Zacks Research upgraded shares of Lifetime Brands from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Canaccord Genuity Group raised their price target on Lifetime Brands from $6.00 to $7.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Roth Capital restated a “buy” rating and issued a $12.00 price objective on shares of Lifetime Brands in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lifetime Brands in a research note on Monday, July 6th. Finally, Wall Street Zen upgraded Lifetime Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.
Get Our Latest Research Report on LCUT
Lifetime Brands Profile
Lifetime Brands, Inc, through its subsidiaries, designs, sources, manufactures and distributes a broad portfolio of consumer products for the home. Headquartered in Garden City, New York, the company operates three primary business segments—Kitchenware, Tabletop & Home Décor and Tools & Storage—providing solutions for food preparation, cooking, serving and storage under both proprietary and licensed brand names.
In the Kitchenware segment, Lifetime Brands offers cookware, bakeware, cutlery and small electric appliances under brands such as Farberware and Chef’sChoice.
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