Martin & Co. Inc. TN Makes New Investment in Lifetime Brands, Inc. $LCUT

Key Points

• Martin & Co. Inc. TN acquired 445,347 Lifetime Brands shares worth approximately $3.8 million, giving it a 1.94% stake. Institutional investors collectively own 40.62% of LCUT.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and a $9.50 target price. Recent targets range from $7 to $12.
• Lifetime Brands exceeded quarterly expectations, reporting $1.18 in EPS versus a projected loss of $0.21 and revenue of $141.57 million. The company also announced a quarterly dividend of $0.0425 per share, yielding approximately 1.9% annually.

Martin & Co. Inc. TN purchased a new position in Lifetime Brands, Inc. (NASDAQ:LCUT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 445,347 shares of the company's stock, valued at approximately $3,799,000. Martin & Co. Inc. TN owned 1.94% of Lifetime Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. JB Capital Partners LP purchased a new position in Lifetime Brands in the 2nd quarter worth approximately $13,820,463,000. BlackRock Inc. bought a new stake in shares of Lifetime Brands in the 2nd quarter worth approximately $8,092,000. Deutsche Bank AG purchased a new stake in shares of Lifetime Brands in the 2nd quarter valued at $102,000. Bank of New York Mellon Corp purchased a new stake in Lifetime Brands during the second quarter valued at about $285,000. Finally, GSA Capital Partners LLP bought a new stake in Lifetime Brands during the 2nd quarter valued at $220,000. Hedge funds and other institutional investors own 40.62% of the company's stock.

Analysts Set New Price Targets

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

Lifetime Brands Trading Down 1.4%

Shares of NASDAQ LCUT opened at $9.17 on Friday. The firm's 50 day moving average price is $8.68 and its 200-day moving average price is $6.86. Lifetime Brands, Inc. has a 52-week low of $2.90 and a 52-week high of $10.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 2.11. The company has a market cap of $210.82 million, a PE ratio of 6.41, a P/E/G ratio of 0.32 and a beta of 1.00.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) last announced its quarterly earnings results 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 net margin of 4.81% and a return on equity of 26.39%. The company had revenue of $141.57 million during the quarter, compared to the consensus estimate of $136.64 million. On average, equities research analysts expect that Lifetime Brands, Inc. will post 2.08 EPS for the current fiscal year.

Lifetime Brands Dividend Announcement

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

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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