JPMorgan Chase & Co. Sells 4,760 Shares of Lifetime Brands Inc (LCUT)
JPMorgan Chase & Co. decreased its position in Lifetime Brands Inc (NASDAQ:LCUT) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 376,800 shares of the company’s stock after selling 4,760 shares during the quarter. JPMorgan Chase & Co. owned 2.55% of Lifetime Brands worth $7,046,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Lifetime Brands by 4.6% in the second quarter. State Street Corp now owns 182,196 shares of the company’s stock valued at $3,307,000 after acquiring an additional 8,077 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Lifetime Brands by 11.4% in the first quarter. Geode Capital Management LLC now owns 91,809 shares of the company’s stock valued at $1,845,000 after acquiring an additional 9,364 shares during the last quarter. Northern Trust Corp increased its position in shares of Lifetime Brands by 28.5% in the second quarter. Northern Trust Corp now owns 493,763 shares of the company’s stock valued at $8,961,000 after acquiring an additional 109,478 shares during the last quarter. Vanguard Group Inc. grew its holdings in Lifetime Brands by 4.1% during the second quarter. Vanguard Group Inc. now owns 381,463 shares of the company’s stock worth $6,924,000 after purchasing an additional 15,003 shares during the period. Finally, Nationwide Fund Advisors grew its holdings in Lifetime Brands by 27.9% during the second quarter. Nationwide Fund Advisors now owns 74,176 shares of the company’s stock worth $1,346,000 after purchasing an additional 16,203 shares during the period. 57.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Craig Phillips sold 1,900 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $17.01, for a total transaction of $32,319.00. Following the completion of the sale, the director now owns 657,276 shares in the company, valued at $11,180,264.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 18,251 shares of company stock valued at $326,749. Corporate insiders own 21.25% of the company’s stock.
Lifetime Brands Inc (NASDAQ:LCUT) opened at $16.60 on Thursday. Lifetime Brands Inc has a 1-year low of $13.80 and a 1-year high of $21.20. The company has a current ratio of 3.31, a quick ratio of 1.43 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $250.39, a PE ratio of 15.66 and a beta of 0.95.
Lifetime Brands (NASDAQ:LCUT) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.30). Lifetime Brands had a return on equity of 9.12% and a net margin of 2.65%. The business had revenue of $165.96 million for the quarter, compared to the consensus estimate of $173.53 million. During the same quarter in the previous year, the business posted $0.52 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.043 per share. This represents a $0.17 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, January 31st. This is a boost from Lifetime Brands’s previous quarterly dividend of $0.04. Lifetime Brands’s payout ratio is currently 16.04%.
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About Lifetime Brands
Lifetime Brands, Inc designs, sources and sells branded kitchenware, tableware and other products used in the home. The Company operates through three segments: U.S. Wholesale, International and Retail Direct. In the U.S. Wholesale segment, the Company designs, markets and distributes its products to retailers and distributors.
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