Fri Sep 20 07:12:57 UTC 2024: ## Bank of New York Mellon Boosts Stake in Lifetime Brands
**New York, NY – September 20, 2024** – Bank of New York Mellon Corp significantly increased its holding in Lifetime Brands, Inc. (NASDAQ: LCUT) during the second quarter, according to HoldingsChannel.com. The fund purchased an additional 28,104 shares, resulting in a 22.8% growth in its position. Bank of New York Mellon now owns 151,186 shares of Lifetime Brands valued at $1,299,000.
Several other institutional investors have also adjusted their positions in Lifetime Brands. Notably, Acadian Asset Management LLC expanded its stake by 13.2% in the first quarter, bringing their total holding to 264,815 shares worth $2,773,000. Essex Investment Management Co. LLC also increased its position by 1.6% in the first quarter, now owning 203,575 shares valued at $2,133,000.
Other notable investors include Gamco Investors INC. ET AL, who increased their stake by 20.9% in the first quarter, and Empowered Funds LLC, who purchased a new position in the company valued at $726,000. Institutional investors currently hold 40.62% of Lifetime Brands’ stock.
Lifetime Brands designs and sells a range of kitchenware and tableware products globally. The company recently announced a quarterly dividend of $0.043 per share, payable on November 15th to shareholders of record as of November 1st.
Analysts at StockNews.com downgraded shares of Lifetime Brands from a “strong-buy” to a “buy” rating on August 6th. However, DA Davidson lifted their target price on the company from $13.50 to $14.00 and maintained a “buy” rating on August 12th.
Lifetime Brands’ stock opened at $6.79 on Friday, with a market capitalization of $149.88 million. The company has a 52-week low of $4.86 and a 52-week high of $11.68.
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