Acme United (NYSE:ACU) Shares Up 1.1% – Here’s What Happened

Shares of Acme United Co. (NYSE:ACU) shot up 1.1% during trading on Friday . The company traded as high as $57.54 and last traded at $56.86. Approximately 14,229 shares traded hands during trading, a decline of 21% from the average daily volume of 17,910 shares. The stock had previously closed at $56.23.

Acme United Stock Performance

The stock has a market capitalization of $216.64 million, a price-to-earnings ratio of 11.63 and a beta of 0.48. The company’s fifty day simple moving average is $47.14 and its 200 day simple moving average is $44.83. The company has a quick ratio of 1.91, a current ratio of 4.41 and a debt-to-equity ratio of 0.30.

Acme United Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. Acme United’s payout ratio is presently 26.89%.

Insider Buying and Selling

In other Acme United news, COO Brian S. Olschan sold 4,833 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $42.00, for a total value of $202,986.00. Following the transaction, the chief operating officer directly owned 41,172 shares of the company’s stock, valued at $1,729,224. This represents a 10.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 29.50% of the company’s stock.

Institutional Investors Weigh In On Acme United

A number of institutional investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC raised its stake in Acme United by 1.0% in the 2nd quarter. Bridgeway Capital Management LLC now owns 23,659 shares of the company’s stock worth $981,000 after purchasing an additional 236 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Acme United by 8.2% in the 2nd quarter. Cetera Investment Advisers now owns 5,672 shares of the company’s stock valued at $235,000 after purchasing an additional 428 shares during the period. Renaissance Technologies LLC grew its position in shares of Acme United by 0.4% during the 1st quarter. Renaissance Technologies LLC now owns 116,558 shares of the company’s stock worth $5,235,000 after purchasing an additional 451 shares in the last quarter. First Trust Advisors LP grew its position in shares of Acme United by 5.5% during the 2nd quarter. First Trust Advisors LP now owns 10,647 shares of the company’s stock worth $441,000 after purchasing an additional 551 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Acme United by 12.2% during the fourth quarter. Barclays PLC now owns 5,274 shares of the company’s stock worth $213,000 after purchasing an additional 575 shares during the period. 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.