Bank of New York Mellon Corp Buys 102,691 Shares of Lifetime Brands, Inc. (NASDAQ:LCUT)

Key Points

• Bank of New York Mellon Corp increased its stake in Lifetime Brands, Inc. by 270.1%, holding a total of 140,710 shares worth $694,000 after acquiring 102,691 additional shares in the first quarter.
• Lifetime Brands reported a loss of ($0.25) EPS for the most recent quarter, which was below the consensus estimate, with revenue of $140.09 million compared to the expected $144.86 million.
• The company declared a quarterly dividend of $0.0425, representing an annualized payout of $0.17 and a yield of 4.0%.

Bank of New York Mellon Corp increased its stake in Lifetime Brands, Inc. (NASDAQ:LCUT - Free Report) by 270.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,710 shares of the company's stock after purchasing an additional 102,691 shares during the period. Bank of New York Mellon Corp owned 0.63% of Lifetime Brands worth $694,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Lifetime Brands by 744.1% in the 4th quarter. JPMorgan Chase & Co. now owns 45,589 shares of the company's stock valued at $269,000 after buying an additional 40,188 shares in the last quarter. Northern Trust Corp increased its position in shares of Lifetime Brands by 22.5% in the 4th quarter. Northern Trust Corp now owns 133,160 shares of the company's stock valued at $787,000 after buying an additional 24,445 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lifetime Brands by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,260,722 shares of the company's stock valued at $7,450,000 after buying an additional 21,139 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of Lifetime Brands in the 4th quarter valued at $122,000. Finally, Barclays PLC increased its position in shares of Lifetime Brands by 93.8% in the 4th quarter. Barclays PLC now owns 36,851 shares of the company's stock valued at $218,000 after buying an additional 17,835 shares in the last quarter. Institutional investors own 40.62% of the company's stock.

Lifetime Brands Stock Down 3.0%

Lifetime Brands stock opened at $4.27 on Friday. The stock has a market cap of $95.69 million, a P/E ratio of -7.00, a P/E/G ratio of 2.18 and a beta of 1.63. The company has a quick ratio of 1.05, a current ratio of 2.74 and a debt-to-equity ratio of 0.75. Lifetime Brands, Inc. has a twelve month low of $2.89 and a twelve month high of $8.27. The company's 50-day moving average price is $4.25 and its two-hundred day moving average price is $4.52.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.11). Lifetime Brands had a positive return on equity of 4.70% and a negative net margin of 1.93%. The business had revenue of $140.09 million for the quarter, compared to the consensus estimate of $144.86 million. As a group, analysts expect that Lifetime Brands, Inc. will post 0.55 EPS for the current year.

Lifetime Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 1st. Lifetime Brands's dividend payout ratio (DPR) is -27.87%.

Wall Street Analyst Weigh In

LCUT has been the subject of a number of recent analyst reports. Canaccord Genuity Group lowered their price objective on shares of Lifetime Brands from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Wall Street Zen cut shares of Lifetime Brands from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st.

Lifetime Brands Company Profile

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the worldwide. The company provides kitchenware products, including kitchen tools and gadgets, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantryware, spice racks, and bakeware; and tableware products comprising dinnerware, stemware, flatware, and giftware.

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