Acme United Co. (ACU) Increases Dividend to $0.11 Per Share
Acme United Co. (NYSEMKT:ACU) announced a quarterly dividend on Tuesday, July 11th, Wall Street Journal reports. Investors of record on Thursday, July 20th will be given a dividend of 0.11 per share on Thursday, August 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, July 18th. This is a positive change from Acme United’s previous quarterly dividend of $0.10.
Acme United (ACU) traded down 2.58% during midday trading on Tuesday, reaching $27.30. 2,197 shares of the company were exchanged. The firm’s 50-day moving average is $27.39 and its 200-day moving average is $26.23. Acme United has a one year low of $18.42 and a one year high of $29.49. The firm has a market cap of $91.56 million, a P/E ratio of 16.55 and a beta of 0.53.
Acme United (NYSEMKT:ACU) last posted its earnings results on Thursday, April 20th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. The firm had revenue of $27.75 million during the quarter, compared to analysts’ expectations of $27.60 million. Acme United had a net margin of 2.38% and a return on equity of 5.70%. On average, equities analysts expect that Acme United will post $1.76 EPS for the current fiscal year.
Separately, Zacks Investment Research raised shares of Acme United from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st.
In other news, COO Brian S. Olschan sold 3,010 shares of Acme United stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $28.07, for a total value of $84,490.70. Following the transaction, the chief operating officer now owns 40,263 shares of the company’s stock, valued at $1,130,182.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Walter C. Johnsen sold 1,393 shares of Acme United stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $27.51, for a total transaction of $38,321.43. Following the completion of the transaction, the chief executive officer now directly owns 306,899 shares in the company, valued at approximately $8,442,791.49. The disclosure for this sale can be found here. In the last three months, insiders sold 11,440 shares of company stock worth $318,213.
About Acme United
Acme United Corporation is a supplier of cutting, measuring, first aid and sharpening products to the school, home, office, hardware, sporting goods and industrial markets. The Company operates in three segments: United States (including Asian operations), Canada and Europe. Its operations in the United States, Canada and Europe are involved in product development, marketing, sales, administrative and distribution activities.
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