Acme United (NYSE:ACU) Stock Price Up 0.5% – Still a Buy?

Shares of Acme United Co. (NYSE:ACU) rose 0.5% on Thursday . The stock traded as high as $48.79 and last traded at $48.01. Approximately 10,292 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 16,915 shares. The stock had previously closed at $47.79.

Acme United Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 4.41. The business’s fifty day simple moving average is $44.09 and its 200-day simple moving average is $43.71. The firm has a market capitalization of $182.92 million, a PE ratio of 9.82 and a beta of 0.48.

Acme United Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.3%. Acme United’s dividend payout ratio is currently 27.59%.

Insiders Place Their Bets

In related news, COO Brian S. Olschan sold 4,833 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $42.00, for a total transaction of $202,986.00. Following the completion of the transaction, the chief operating officer directly owned 41,172 shares of the company’s stock, valued at approximately $1,729,224. This trade represents a 10.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 29.50% of the company’s stock.

Institutional Trading of Acme United

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in shares of Acme United by 3,048.9% during the 2nd quarter. Bank of America Corp DE now owns 1,480 shares of the company’s stock valued at $61,000 after purchasing an additional 1,433 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Acme United during the second quarter valued at about $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Acme United in the second quarter worth about $75,000. Raymond James Financial Inc. bought a new stake in shares of Acme United in the second quarter worth about $76,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Acme United in the second quarter worth about $104,000. Hedge funds and other institutional investors own 62.10% of the company’s stock.

Acme United Company Profile

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.