JB Capital Partners LP Invests $13.82 Million in Lifetime Brands, Inc. $LCUT

JB Capital Partners LP acquired a new position in shares of Lifetime Brands, Inc. (NASDAQ:LCUT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,627,852 shares of the company’s stock, valued at approximately $13,820,463. Lifetime Brands makes up approximately 0.0% of JB Capital Partners LP’s portfolio, making the stock its 12th biggest holding. JB Capital Partners LP owned 7.08% of Lifetime Brands at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. grew its position in shares of Lifetime Brands by 0.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 913,425 shares of the company’s stock valued at $3,535,000 after buying an additional 4,703 shares during the last quarter. Bank of America Corp DE raised its holdings in Lifetime Brands by 39.0% in the 1st quarter. Bank of America Corp DE now owns 20,722 shares of the company’s stock valued at $119,000 after buying an additional 5,809 shares during the period. Empowered Funds LLC grew its position in Lifetime Brands by 7.3% during the 1st quarter. Empowered Funds LLC now owns 108,458 shares of the company’s stock worth $535,000 after purchasing an additional 7,385 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Lifetime Brands by 3.8% during 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 in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Lifetime Brands during the second quarter worth $102,000. 40.62% of the stock is owned by institutional investors.

Insider Buying and Selling at Lifetime Brands

In other Lifetime Brands news, Director Jeffrey Siegel sold 11,560 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $9.53, for a total value of $110,166.80. Following the completion of the transaction, the director directly owned 1,166,337 shares in the company, valued at approximately $11,115,191.61. This represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 44.40% of the company’s stock.

Wall Street Analysts Forecast Growth

LCUT has been the topic of a number of recent research reports. Roth Capital reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Lifetime Brands in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lifetime Brands in a research note on Monday, July 6th. Zacks Research raised shares of Lifetime Brands from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Canaccord Genuity Group raised their price objective on shares of Lifetime Brands from $6.00 to $7.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised Lifetime Brands from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Lifetime Brands Stock Up 0.2%

Shares of NASDAQ:LCUT traded up $0.02 during trading on Friday, hitting $9.23. 77,670 shares of the company were exchanged, compared to its average volume of 186,368. The firm has a fifty day moving average price of $8.74 and a two-hundred day moving average price of $7.05. Lifetime Brands, Inc. has a fifty-two week low of $2.90 and a fifty-two week high of $10.17. The stock has a market cap of $212.19 million, a price-to-earnings ratio of 6.45, a P/E/G ratio of 0.31 and a beta of 1.00. The company has a current ratio of 2.11, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51.

Lifetime Brands (NASDAQ:LCUT) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $1.39. The company had revenue of $141.57 million during the quarter, compared to analyst estimates of $136.64 million. Lifetime Brands had a net margin of 4.81% and a return on equity of 26.39%. As a group, research analysts anticipate that Lifetime Brands, Inc. will post 2.08 earnings per share for the current fiscal year.

Lifetime Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.0425 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.17 annualized dividend and a dividend yield of 1.8%. Lifetime Brands’s dividend payout ratio is presently 11.89%.

About Lifetime Brands

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.