Strs Ohio Cuts Stake in Lifetime Brands, Inc. (NASDAQ:LCUT)

Strs Ohio lessened its stake in shares of Lifetime Brands, Inc. (NASDAQ:LCUT – Get Rating) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,900 shares of the company’s stock after selling 1,300 shares during the quarter. Strs Ohio’s holdings in Lifetime Brands were worth $290,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Essex Investment Management Co. LLC boosted its holdings in shares of Lifetime Brands by 3.5% during the 2nd quarter. Essex Investment Management Co. LLC now owns 92,202 shares of the company’s stock valued at $1,018,000 after acquiring an additional 3,112 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Lifetime Brands by 21.7% during the 2nd quarter. Rhumbline Advisers now owns 20,174 shares of the company’s stock valued at $223,000 after acquiring an additional 3,601 shares during the last quarter. Martin & Co. Inc. TN lifted its stake in shares of Lifetime Brands by 3.8% in the 3rd quarter. Martin & Co. Inc. TN now owns 113,029 shares of the company’s stock worth $765,000 after purchasing an additional 4,182 shares during the period. State Street Corp lifted its stake in shares of Lifetime Brands by 2.0% in the 2nd quarter. State Street Corp now owns 226,270 shares of the company’s stock worth $2,498,000 after purchasing an additional 4,514 shares during the period. Finally, Teton Advisors Inc. lifted its stake in shares of Lifetime Brands by 2.0% in the 1st quarter. Teton Advisors Inc. now owns 256,175 shares of the company’s stock worth $3,289,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 41.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. DA Davidson lowered their price objective on shares of Lifetime Brands from $11.00 to $9.50 and set a “buy” rating on the stock in a research note on Tuesday, November 22nd. StockNews.com assumed coverage on shares of Lifetime Brands in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Lifetime Brands Price Performance

NASDAQ LCUT opened at $7.80 on Friday. Lifetime Brands, Inc. has a 12 month low of $6.38 and a 12 month high of $16.40. The stock has a market cap of $171.63 million, a price-to-earnings ratio of -16.60, a PEG ratio of 0.72 and a beta of 1.29. The company’s 50 day moving average is $8.00 and its two-hundred day moving average is $8.50. The company has a current ratio of 3.12, a quick ratio of 1.13 and a debt-to-equity ratio of 1.16.

Lifetime Brands (NASDAQ:LCUT – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.15). Lifetime Brands had a positive return on equity of 6.61% and a negative net margin of 1.30%. The firm had revenue of $186.59 million for the quarter, compared to the consensus estimate of $207.04 million. As a group, research analysts anticipate that Lifetime Brands, Inc. will post 0.47 earnings per share for the current year.

Lifetime Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Wednesday, February 1st will be paid a dividend of $0.043 per share. This represents a $0.17 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Tuesday, January 31st. Lifetime Brands’s payout ratio is -36.17%.

About Lifetime Brands

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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 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.