Wedge Capital Management L L P NC decreased its position in Lifetime Brands Inc. (NASDAQ:LCUT) by 18.1% during the second quarter, Holdings Channel reports. The institutional investor owned 49,650 shares of the company’s stock after selling 11,000 shares during the period. Wedge Capital Management L L P NC’s holdings in Lifetime Brands were worth $724,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC raised its position 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 worth $2,252,000 after buying an additional 133,634 shares in the last quarter. Wellington Management Group LLP raised its position 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 worth $29,075,000 after buying an additional 48,600 shares in the last quarter. Strs Ohio raised its position in shares of Lifetime Brands by 11.2% in the second quarter. Strs Ohio now owns 32,000 shares of the company’s stock worth $466,000 after buying an additional 3,230 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Lifetime Brands by 2.3% in the first quarter. Geode Capital Management LLC now owns 69,975 shares of the company’s stock worth $1,054,000 after buying an additional 1,588 shares in the last quarter. Finally, Foundry Partners LLC raised its position in shares of Lifetime Brands by 0.3% in the second quarter. Foundry Partners LLC now owns 108,648 shares of the company’s stock worth $1,585,000 after buying an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 57.55% of the company’s stock.
Shares of Lifetime Brands Inc. (NASDAQ:LCUT) traded down 0.36% during trading on Wednesday, hitting $13.75. 10,957 shares of the company were exchanged. Lifetime Brands Inc. has a 12 month low of $11.29 and a 12 month high of $17.80. The firm has a market capitalization of $198.40 million, a PE ratio of 18.61 and a beta of 1.24. The firm’s 50-day moving average price is $13.07 and its 200 day moving average price is $14.55.
Lifetime Brands (NASDAQ:LCUT) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.01 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. The firm earned $118.10 million during the quarter, compared to analyst estimates of $123.35 million. Lifetime Brands had a net margin of 1.84% and a return on equity of 6.91%. Lifetime Brands’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm posted ($0.04) EPS. On average, equities research analysts expect that Lifetime Brands Inc. will post $1.03 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be given a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, October 28th. Lifetime Brands’s dividend payout ratio is presently 22.97%.
In other Lifetime Brands news, major shareholder Mill Road Capital Ii, L.P. purchased 4,197 shares of Lifetime Brands stock in a transaction on Tuesday, October 11th. The stock was 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 SEC, which is available at this hyperlink. Company insiders own 21.82% of the company’s stock.
Lifetime Brands Company Profile
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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