Lifetime Brands (NASDAQ:LCUT) Director Sells 2,571 Shares of Stock

Key Points

• Director Jeffrey Siegel sold 2,571 Lifetime Brands shares at an average price of $9.51, reducing his stake by 0.22% while retaining 1,177,897 shares.
• LCUT shares rose 3.4% to $9.48, near the company’s 12-month high of $10.17. Lifetime Brands recently reported quarterly EPS of $1.18, sharply exceeding the consensus estimate of a $0.21 loss, while revenue also topped expectations.
• The company declared a quarterly dividend of $0.0425 per share, equivalent to $0.17 annually and a 1.8% yield. Analysts’ average rating is “Moderate Buy,” with an average price target of $9.50.

Lifetime Brands, Inc. (NASDAQ:LCUT - Get Free Report) Director Jeffrey Siegel sold 2,571 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $9.51, for a total transaction of $24,450.21. Following the completion of the sale, the director directly owned 1,177,897 shares of the company's stock, valued at $11,201,800.47. This trade represents a 0.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Lifetime Brands Stock Up 3.4%

Shares of LCUT traded up $0.31 during mid-day trading on Monday, reaching $9.48. 245,212 shares of the stock traded hands, compared to its average volume of 187,506. The stock has a fifty day simple moving average of $8.68 and a 200 day simple moving average of $6.88. Lifetime Brands, Inc. has a 12-month low of $2.90 and a 12-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. The firm has a market cap of $217.95 million, a price-to-earnings ratio of 6.63, a P/E/G ratio of 0.32 and a beta of 1.00.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) last announced its 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 business had revenue of $141.57 million during the quarter, compared to the consensus estimate of $136.64 million. Sell-side analysts expect that Lifetime Brands, Inc. will post 2.08 EPS for the current fiscal year.

Lifetime Brands Announces Dividend

The company also recently disclosed 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. This represents a $0.17 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 30th. Lifetime Brands's dividend payout ratio is presently 11.89%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LCUT shares. Canaccord Genuity Group lifted their target price on Lifetime Brands from $6.00 to $7.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. Wall Street Zen raised Lifetime Brands from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 17th. Zacks Research upgraded Lifetime Brands from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Roth Capital restated a "buy" rating and set a $12.00 price objective on shares of Lifetime Brands in a report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lifetime Brands in a research report on Monday, July 6th. 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $9.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LCUT. JB Capital Partners LP bought a new stake in shares of Lifetime Brands in the 2nd quarter worth about $13,820,463,000. BlackRock Inc. bought a new position in shares of Lifetime Brands during the second quarter worth about $8,092,000. Ameriprise Financial Inc. grew its stake in Lifetime Brands by 0.5% in the third quarter. Ameriprise Financial Inc. now owns 913,425 shares of the company's stock worth $3,535,000 after purchasing an additional 4,703 shares in the last quarter. Martin & Co. Inc. TN acquired a new position in Lifetime Brands in the second quarter worth about $3,799,000. Finally, Bridgeway Capital Management LLC increased its holdings in Lifetime Brands by 3.8% in 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 last quarter. 40.62% of the stock is owned by institutional investors and hedge funds.

Lifetime Brands Company 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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