Acme United (NYSE:ACU) Stock Price Up 2.5% – Here’s Why

Acme United Co. (NYSE:ACU) traded up 2.5% during trading on Friday . The company traded as high as $45.60 and last traded at $44.80. Approximately 16,722 shares changed hands during mid-day trading, an increase of 81% from the average session volume of 9,242 shares. The stock had previously closed at $43.69.

Wall Street Analyst Weigh In

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 research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Acme United Stock Up 2.5%

The stock has a market cap of $170.55 million, a price-to-earnings ratio of 9.16 and a beta of 0.74. 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 firm’s 50 day moving average is $42.53 and its two-hundred day moving average is $40.63.

Acme United Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 27th. Shareholders of record on Tuesday, January 6th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, January 6th. Acme United’s dividend payout ratio is currently 26.23%.

Hedge Funds Weigh In On Acme United

Several institutional investors have recently added to or reduced their stakes in the business. Mink Brook Asset Management LLC grew its holdings in Acme United by 18.3% in the 2nd quarter. Mink Brook Asset Management LLC now owns 378,942 shares of the company’s stock valued at $15,707,000 after buying an additional 58,601 shares during the period. AE Wealth Management LLC lifted its holdings in shares of Acme United by 121.7% during the 2nd quarter. AE Wealth Management LLC now owns 35,287 shares of the company’s stock worth $1,463,000 after acquiring an additional 19,370 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Acme United in the second quarter worth approximately $628,000. Indivisible Partners purchased a new stake in Acme United in the fourth quarter valued at approximately $562,000. Finally, Diamond Hill Capital Management Inc. increased its position in Acme United by 12.2% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 21,812 shares of the company’s stock worth $879,000 after purchasing an additional 2,376 shares during the last quarter. 62.10% of the stock is currently owned by institutional investors and hedge funds.

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.