Empowered Funds LLC Acquires New Stake in Lifetime Brands, Inc. $LCUT

Key Points

• Empowered Funds LLC acquired 133,503 shares of Lifetime Brands in the second quarter, worth approximately $1.14 million and representing 0.58% of the company. Institutional investors collectively own 40.62% of LCUT.
• Lifetime Brands reported quarterly revenue of $141.57 million and earnings per share of $1.18, significantly exceeding analysts’ expectations. The stock recently traded at $8.87, up 0.7%, with a 12-month range of $2.90 to $10.17.
• The company declared a quarterly dividend of $0.0425 per share, equivalent to an annualized yield of approximately 1.9%. Analysts’ consensus rating is “Moderate Buy”, with an average price target of $9.50, though insider selling and mixed individual ratings remain notable.

Empowered Funds LLC bought a new stake in Lifetime Brands, Inc. (NASDAQ:LCUT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 133,503 shares of the company's stock, valued at approximately $1,139,000. Empowered Funds LLC owned 0.58% of Lifetime Brands at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LCUT. JB Capital Partners LP grew its position in shares of Lifetime Brands by 2.5% in the fourth quarter. JB Capital Partners LP now owns 1,627,852 shares of the company's stock valued at $6,430,000 after purchasing an additional 40,000 shares in the last quarter. BlackRock Inc. purchased a new position in Lifetime Brands during the 2nd quarter valued at about $8,092,000. Ameriprise Financial Inc. increased its position in shares of Lifetime Brands by 0.5% during the third quarter. Ameriprise Financial Inc. now owns 913,425 shares of the company's stock valued at $3,535,000 after buying an additional 4,703 shares during the period. Martin & Co. Inc. TN bought a new position in Lifetime Brands in the 2nd quarter valued at $3,799,000. Finally, Bridgeway Capital Management LLC boosted its stake in Lifetime Brands by 3.8% during the third quarter. Bridgeway Capital Management LLC now owns 243,414 shares of the company's stock valued at $942,000 after buying an additional 8,820 shares during the period. 40.62% of the stock is currently owned by institutional investors.

Lifetime Brands Stock Up 0.7%

LCUT opened at $8.87 on Friday. The stock has a market capitalization of $203.92 million, a price-to-earnings ratio of 6.20, a PEG ratio of 0.30 and a beta of 0.98. The firm has a 50 day moving average price of $8.85 and a 200-day moving average price of $7.27. Lifetime Brands, Inc. has a twelve month low of $2.90 and a twelve month high of $10.17. 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 issued its earnings results on Thursday, August 6th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $1.39. Lifetime Brands had a net margin of 4.81% and a return on equity of 26.39%. The company had revenue of $141.57 million for the quarter, compared to analysts' expectations of $136.64 million. Equities research analysts forecast that Lifetime Brands, Inc. will post 2.08 earnings per share for the current year.

Lifetime Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued 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%.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

About Lifetime Brands

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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