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 holdings in shares of Lifetime Brands, Inc. (NASDAQ:LCUT - Free Report) by 270.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 140,710 shares of the company's stock after purchasing an additional 102,691 shares during the quarter. Bank of New York Mellon Corp owned 0.63% of Lifetime Brands worth $694,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Hsbc Holdings PLC grew its stake in shares of Lifetime Brands by 84.9% in the fourth quarter. Hsbc Holdings PLC now owns 21,625 shares of the company's stock valued at $128,000 after buying an additional 9,932 shares in the last quarter. SageView Advisory Group LLC raised its position in shares of Lifetime Brands by 41.8% in the fourth quarter. SageView Advisory Group LLC now owns 34,640 shares of the company's stock valued at $205,000 after purchasing an additional 10,219 shares during the period. Bank of America Corp DE lifted its holdings in shares of Lifetime Brands by 66.1% during the fourth quarter. Bank of America Corp DE now owns 29,908 shares of the company's stock worth $177,000 after buying an additional 11,899 shares in the last quarter. Barclays PLC lifted its holdings in shares of Lifetime Brands by 93.8% during the fourth quarter. Barclays PLC now owns 36,851 shares of the company's stock worth $218,000 after buying an additional 17,835 shares in the last quarter. Finally, Corton Capital Inc. acquired a new stake in shares of Lifetime Brands during the fourth quarter worth $122,000. 40.62% of the stock is owned by institutional investors.

Lifetime Brands Stock Down 1.0%

Shares of NASDAQ:LCUT traded down $0.04 during trading on Wednesday, reaching $4.09. 3,326 shares of the stock were exchanged, compared to its average volume of 71,941. The firm has a market cap of $91.66 million, a price-to-earnings ratio of -6.70, a price-to-earnings-growth ratio of 2.13 and a beta of 1.63. The stock has a fifty day moving average of $4.29 and a two-hundred day moving average of $4.49. Lifetime Brands, Inc. has a 1-year low of $2.89 and a 1-year high of $7.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.74 and a quick ratio of 1.05.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.11). The company had revenue of $140.09 million during the quarter, compared to analysts' expectations of $144.86 million. Lifetime Brands had a negative net margin of 1.93% and a positive return on equity of 4.70%. Research analysts anticipate that Lifetime Brands, Inc. will post 0.55 earnings per share for the current fiscal year.

Lifetime Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.0425 per share. The ex-dividend date is Friday, August 1st. This represents a $0.17 annualized dividend and a dividend yield of 4.2%. Lifetime Brands's dividend payout ratio is presently -27.87%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LCUT shares. Wall Street Zen downgraded Lifetime Brands from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Canaccord Genuity Group reduced their price target on Lifetime Brands from $6.00 to $5.00 and set a "buy" rating on the stock in a report on Monday, May 12th.

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.