Acme United (NYSE:ACU) Trading Up 0.8% – Here’s Why

Shares of Acme United Co. (NYSE:ACU) were up 0.8% during mid-day trading on Thursday . The stock traded as high as $41.60 and last traded at $41.46. Approximately 3,713 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 9,522 shares. The stock had previously closed at $41.15.

Analyst Ratings Changes

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

Acme United Price Performance

The company has a current ratio of 4.41, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $40.40 and a 200-day simple moving average of $40.41. The stock has a market cap of $157.84 million, a price-to-earnings ratio of 8.48 and a beta of 0.73.

Acme United Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 27th. Stockholders of record on Tuesday, January 6th were paid a $0.16 dividend. The ex-dividend date was Tuesday, January 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Acme United’s dividend payout ratio (DPR) is presently 26.23%.

Institutional Trading of Acme United

A number of hedge funds have recently bought and sold shares of ACU. Mink Brook Asset Management LLC grew its position in Acme United by 0.3% in the 3rd quarter. Mink Brook Asset Management LLC now owns 379,893 shares of the company’s stock worth $15,644,000 after purchasing an additional 951 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Acme United by 116.6% in the second quarter. Geode Capital Management LLC now owns 75,267 shares of the company’s stock valued at $3,120,000 after buying an additional 40,524 shares during the period. Envestnet Asset Management Inc. grew its position in Acme United by 1.1% during the third quarter. Envestnet Asset Management Inc. now owns 37,431 shares of the company’s stock worth $1,541,000 after buying an additional 395 shares in the last quarter. AE Wealth Management LLC increased its stake in Acme United by 121.7% during the second quarter. AE Wealth Management LLC now owns 35,287 shares of the company’s stock valued at $1,463,000 after acquiring an additional 19,370 shares during the period. Finally, Bridgeway Capital Management LLC raised its holdings in Acme United by 1.5% in the 3rd quarter. Bridgeway Capital Management LLC now owns 24,025 shares of the company’s stock valued at $989,000 after acquiring an additional 366 shares in the last quarter. 62.10% of the stock is owned by institutional investors.

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.