Vanguard Group Inc Has $5.96 Million Stake in Lifetime Brands Inc (LCUT)

Vanguard Group Inc trimmed its stake in Lifetime Brands Inc (NASDAQ:LCUT) by 0.2% in the third quarter, Holdings Channel reports. The fund owned 546,443 shares of the company’s stock after selling 1,050 shares during the quarter. Vanguard Group Inc’s holdings in Lifetime Brands were worth $5,956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Lifetime Brands by 15.2% in the second quarter. BlackRock Inc. now owns 850,187 shares of the company’s stock valued at $10,754,000 after acquiring an additional 111,957 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Lifetime Brands by 20.0% during the 2nd quarter. Northern Trust Corp now owns 149,815 shares of the company’s stock worth $1,896,000 after purchasing an additional 24,996 shares during the period. Teton Advisors Inc. grew its holdings in shares of Lifetime Brands by 67.1% during the 3rd quarter. Teton Advisors Inc. now owns 141,451 shares of the company’s stock worth $1,542,000 after purchasing an additional 56,803 shares during the period. Olstein Capital Management L.P. grew its holdings in shares of Lifetime Brands by 5.3% during the 3rd quarter. Olstein Capital Management L.P. now owns 215,000 shares of the company’s stock worth $2,344,000 after purchasing an additional 10,800 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Lifetime Brands by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,209,337 shares of the company’s stock worth $13,182,000 after purchasing an additional 19,651 shares during the period. 46.61% of the stock is owned by institutional investors.

Several equities analysts recently issued reports on LCUT shares. ValuEngine lowered Lifetime Brands from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. BidaskClub raised Lifetime Brands from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 7th.

In other news, major shareholder Centre Partners V, L.P. purchased 7,960 shares of the stock in a transaction on Wednesday, November 14th. The stock was purchased at an average price of $10.37 per share, with a total value of $82,545.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 48,273 shares of company stock worth $556,700 over the last quarter. Company insiders own 41.70% of the company’s stock.

LCUT traded down $0.20 during mid-day trading on Monday, hitting $10.90. 667 shares of the stock were exchanged, compared to its average volume of 20,859. Lifetime Brands Inc has a 1-year low of $8.01 and a 1-year high of $16.80. The company has a current ratio of 3.09, a quick ratio of 1.38 and a debt-to-equity ratio of 1.29. The firm has a market cap of $230.46 million, a price-to-earnings ratio of 123.33 and a beta of 1.00.

Lifetime Brands (NASDAQ:LCUT) last posted its earnings results on Thursday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.36). Lifetime Brands had a positive return on equity of 0.52% and a negative net margin of 1.59%. The firm had revenue of $209.45 million for the quarter.

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Lifetime Brands Profile

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the United States and internationally. The company operates through three segments: U.S. Wholesale, International, and Retail Direct. It offers kitchenware products, including kitchen tools and gadgets, cutlery, cutting boards, shears, cookware, pantry ware, spice racks, and bakeware, as well as novelty kitchen tools, tableware accessories, party goods, personal accessories, and other products; and tableware products comprising dinnerware, stemware, flatware, and giftware.

Further Reading: What is channel trading?

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Institutional Ownership by Quarter for Lifetime Brands (NASDAQ:LCUT)

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