Acadian Asset Management LLC Buys 54,142 Shares of Lifetime Brands, Inc. (NASDAQ:LCUT)

Acadian Asset Management LLC raised its stake in shares of Lifetime Brands, Inc. (NASDAQ:LCUT) by 20.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 318,957 shares of the company’s stock after purchasing an additional 54,142 shares during the quarter. Acadian Asset Management LLC owned 1.45% of Lifetime Brands worth $2,737,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Essex Investment Management Co. LLC increased its holdings in shares of Lifetime Brands by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 203,575 shares of the company’s stock worth $2,133,000 after purchasing an additional 3,129 shares during the period. Heron Bay Capital Management increased its holdings in shares of Lifetime Brands by 81.1% during the 1st quarter. Heron Bay Capital Management now owns 18,690 shares of the company’s stock worth $196,000 after purchasing an additional 8,369 shares during the period. Rhumbline Advisers increased its holdings in shares of Lifetime Brands by 579.0% during the 2nd quarter. Rhumbline Advisers now owns 13,173 shares of the company’s stock worth $113,000 after purchasing an additional 11,233 shares during the period. Chemistry Wealth Management LLC bought a new position in shares of Lifetime Brands during the 1st quarter worth about $235,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Lifetime Brands during the 4th quarter valued at about $180,000. Institutional investors own 40.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LCUT. StockNews.com lowered shares of Lifetime Brands from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th. DA Davidson lifted their target price on shares of Lifetime Brands from $13.50 to $14.00 and gave the company a “buy” rating in a research report on Monday, August 12th.

Lifetime Brands Price Performance

Shares of Lifetime Brands stock opened at $6.80 on Friday. The firm has a market cap of $150.69 million, a P/E ratio of -25.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.25. Lifetime Brands, Inc. has a twelve month low of $4.86 and a twelve month high of $11.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.92 and a current ratio of 2.35. The firm’s 50-day simple moving average is $7.49 and its 200-day simple moving average is $9.02.

Lifetime Brands (NASDAQ:LCUT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $141.67 million during the quarter, compared to analyst estimates of $41.90 million. Lifetime Brands had a negative net margin of 2.58% and a positive return on equity of 4.51%. During the same quarter last year, the firm earned ($0.02) earnings per share. As a group, research analysts expect that Lifetime Brands, Inc. will post 0.7 EPS for the current fiscal year.

Lifetime Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.043 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.17 dividend on an annualized basis and a dividend yield of 2.53%. Lifetime Brands’s payout ratio is -62.96%.

Lifetime Brands Profile

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the worldwide. The company provides kitchenware products, including kitchen tools and gadgets, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantryware, spice racks, and bakeware; and tableware products comprising dinnerware, stemware, flatware, and giftware.