BlackRock Inc. Invests $8.09 Million in Lifetime Brands, Inc. $LCUT

Key Points

• BlackRock acquired a new 948,690-share stake in Lifetime Brands, valued at approximately $8.09 million and representing 4.15% of the company. Institutional investors and hedge funds collectively own 40.62% of LCUT.
• Lifetime Brands reported quarterly revenue of $141.57 million and earnings of $1.18 per share, surpassing analyst expectations. The company also declared a quarterly dividend of $0.0425 per share, equivalent to a 1.9% annualized yield.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $9.50. LCUT recently traded at $8.87, while insiders own 44.40% of the stock and have sold shares over the past quarter.

BlackRock Inc. bought a new position in shares of Lifetime Brands, Inc. (NASDAQ:LCUT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 948,690 shares of the company's stock, valued at approximately $8,092,000. BlackRock Inc. owned 4.15% of Lifetime Brands at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LCUT. Ameriprise Financial Inc. lifted its holdings in Lifetime Brands by 16.8% in the second quarter. Ameriprise Financial Inc. now owns 908,722 shares of the company's stock valued at $4,634,000 after buying an additional 130,650 shares during the period. Walleye Capital LLC bought a new position in Lifetime Brands in the second quarter valued at approximately $444,000. Jane Street Group LLC lifted its position in Lifetime Brands by 388.4% in the 4th quarter. Jane Street Group LLC now owns 51,795 shares of the company's stock valued at $205,000 after acquiring an additional 41,191 shares in the last quarter. JB Capital Partners LP boosted its position in shares of Lifetime Brands by 2.5% during the fourth quarter. JB Capital Partners LP now owns 1,627,852 shares of the company's stock worth $6,430,000 after buying an additional 40,000 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Lifetime Brands during the 2nd quarter worth approximately $285,000. 40.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lifetime Brands

In other news, Director Jeffrey Siegel sold 7,359 shares of the firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $9.51, for a total transaction of $69,984.09. Following the completion of the transaction, the director directly owned 1,158,978 shares in the company, valued at $11,021,880.78. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 21,683 shares of company stock valued at $206,435. Insiders own 44.40% of the company's stock.

Lifetime Brands Stock Performance

LCUT stock opened at $8.87 on Friday. Lifetime Brands, Inc. has a 12-month low of $2.90 and a 12-month high of $10.17. The firm has a market cap of $203.92 million, a PE ratio of 6.20, a P/E/G ratio of 0.30 and a beta of 0.98. The business has a 50 day moving average of $8.85 and a 200-day moving average of $7.27. The company has a quick ratio of 0.99, a current ratio of 2.11 and a debt-to-equity ratio of 0.51.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $1.39. Lifetime Brands had a return on equity of 26.39% and a net margin of 4.81%.The business had revenue of $141.57 million during the quarter, compared to analyst estimates of $136.64 million. As a group, sell-side analysts expect that Lifetime Brands, Inc. will post 2.08 earnings per share for the current year.

Lifetime Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, October 30th. Lifetime Brands's dividend payout ratio (DPR) is 11.89%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wall Street Zen raised Lifetime Brands from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 17th. Roth Capital reissued a "buy" rating and issued a $12.00 target price on shares of Lifetime Brands in a research report on Tuesday, August 11th. Zacks Research upgraded shares of Lifetime Brands from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Canaccord Genuity Group raised their price target on shares of Lifetime Brands from $6.00 to $7.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Lifetime Brands in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $9.50.

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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