AE Wealth Management LLC Purchases 19,370 Shares of Acme United Co. $ACU

AE Wealth Management LLC lifted its position in shares of Acme United Co. (NYSE:ACU) by 121.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,287 shares of the company’s stock after buying an additional 19,370 shares during the period. AE Wealth Management LLC owned about 0.93% of Acme United worth $1,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Investment Advisers acquired a new position in Acme United during the 1st quarter worth approximately $208,000. Jane Street Group LLC lifted its position in shares of Acme United by 61.0% in the first quarter. Jane Street Group LLC now owns 9,839 shares of the company’s stock worth $390,000 after purchasing an additional 3,729 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Acme United by 2.9% during the first quarter. HighTower Advisors LLC now owns 10,659 shares of the company’s stock worth $422,000 after purchasing an additional 304 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Acme United during the second quarter worth $477,000. Finally, Diamond Hill Capital Management Inc. grew its position in Acme United by 39.7% in the first quarter. Diamond Hill Capital Management Inc. now owns 19,569 shares of the company’s stock valued at $775,000 after purchasing an additional 5,563 shares in the last quarter. Institutional investors and hedge funds own 62.10% of the company’s stock.

Acme United Stock Performance

Shares of ACU stock opened at $36.55 on Thursday. Acme United Co. has a 52 week low of $34.35 and a 52 week high of $45.42. The company has a market capitalization of $139.15 million, a price-to-earnings ratio of 7.47 and a beta of 0.79. The company has a 50-day simple moving average of $39.85 and a 200 day simple moving average of $40.36. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 4.41.

Acme United (NYSE:ACU) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. Acme United had a net margin of 10.25% and a return on equity of 9.70%. During the same quarter in the prior year, the firm earned $0.54 earnings per share.

Acme United Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Friday, October 3rd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, October 3rd. Acme United’s dividend payout ratio is currently 26.23%.

Wall Street Analyst Weigh In

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

About Acme United

Acme United Corporation supplies cutting, measuring, first aid, and sharpening products to the school, home, office, hardware, sporting goods, and industrial markets in the United States, Canada, Europe, and internationally. The company offers scissors, shears, knives, rulers, pencil sharpeners, paper trimmers, safety cutters, lettering products, glue guns, and other craft products under the Westcott brand name; and cutting tools under the Clauss brand.