California State Teachers Retirement System increased its stake in Lifetime Brands Inc. (NASDAQ:LCUT) by 1.7% during the second quarter, Holdings Channel reports. The firm owned 23,170 shares of the company’s stock after buying an additional 393 shares during the period. California State Teachers Retirement System owned 0.16% of Lifetime Brands worth $338,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of LCUT. Acadian Asset Management LLC increased its stake in shares of 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. Wellington Management Group LLP increased its stake in shares of 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. Renaissance Technologies LLC increased its stake in shares of Lifetime Brands by 17.7% in the first quarter. Renaissance Technologies LLC now owns 111,500 shares of the company’s stock valued at $1,680,000 after buying an additional 16,800 shares during the period. Strs Ohio increased its stake in shares of Lifetime Brands by 11.2% in the second quarter. Strs Ohio now owns 32,000 shares of the company’s stock valued at $466,000 after buying an additional 3,230 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Lifetime Brands by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 78,906 shares of the company’s stock valued at $1,152,000 after buying an additional 2,899 shares during the period. 57.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Lifetime Brands Inc. (NASDAQ:LCUT) traded up 0.74% during mid-day trading on Friday, hitting $13.65. The company had a trading volume of 25,253 shares. Lifetime Brands Inc. has a 52 week low of $11.29 and a 52 week high of $17.80. The firm has a market capitalization of $196.96 million, a PE ratio of 18.47 and a beta of 1.24. The firm has a 50-day moving average price of $13.05 and a 200-day moving average price of $14.57.
Lifetime Brands (NASDAQ:LCUT) last posted its earnings results on Tuesday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. The company had revenue of $118.10 million for the quarter, compared to analysts’ expectations of $123.35 million. Lifetime Brands had a return on equity of 6.91% and a net margin of 1.84%. Lifetime Brands’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned ($0.04) earnings per share. Equities analysts forecast that Lifetime Brands Inc. will post $1.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st will be paid a $0.0425 dividend. The ex-dividend date is Friday, October 28th. This represents a $0.17 annualized dividend and a dividend yield of 1.25%. Lifetime Brands’s payout ratio is presently 22.97%.
In other Lifetime Brands news, major shareholder Mill Road Capital Ii, L.P. bought 4,197 shares of the business’s stock in a transaction that occurred on Tuesday, October 11th. The shares were bought at an average cost of $12.82 per share, with a total value of $53,805.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 21.82% of the stock is owned by corporate insiders.
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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