Acme United (NYSE:ACU) Shares Up 4.1% – Here’s Why

Acme United Co. (NYSE:ACU) traded up 4.1% during trading on Wednesday . The stock traded as high as $42.26 and last traded at $41.70. 15,749 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 11,337 shares. The stock had previously closed at $40.04.

Analyst Ratings Changes

Separately, Singular Research raised shares of Acme United from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Acme United has an average rating of “Strong Buy”.

Acme United Stock Up 4.1%

The company has a market cap of $158.75 million, a P/E ratio of 8.53 and a beta of 0.73. The company’s 50-day moving average is $38.54 and its two-hundred day moving average is $40.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.41 and a quick ratio of 1.91.

Acme United (NYSE:ACU) last issued its earnings results on Tuesday, October 21st. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Acme United had a return on equity of 9.70% and a net margin of 10.25%.During the same period last year, the business posted $0.54 earnings per share.

Acme United Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 27th. Shareholders of record on Tuesday, January 6th will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, January 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.5%. Acme United’s dividend payout ratio (DPR) is presently 26.23%.

Institutional Trading of Acme United

Institutional investors have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Acme United in the second quarter valued at $31,000. Bank of America Corp DE grew its stake in shares of Acme United by 3,048.9% in the 2nd quarter. Bank of America Corp DE now owns 1,480 shares of the company’s stock worth $61,000 after buying an additional 1,433 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Acme United in the 2nd quarter worth $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Acme United in the 2nd quarter worth about $75,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Acme United during the 2nd quarter valued at about $76,000. Hedge funds and other institutional investors own 62.10% of the company’s stock.

About Acme United

Acme United Corporation is a diversified manufacturer and marketer of cutting, measuring and safety products designed for consumer, professional and industrial end markets. The company’s product portfolio spans shears, scissors, cutters, rulers, pencil sharpeners, first aid kits and medical products, as well as fishing knives, survival tools and related accessories. Acme United serves a wide range of end‐use channels, including office supply, school, hardware, mass merchandise and sporting goods retail.

Founded in the 19th century and headquartered in Shelton, Connecticut, Acme United operates through a collection of well‐established brands.