Acme United (NYSE:ACU) Stock Price Up 0.8% – Should You Buy?

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

Analysts Set New Price Targets

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 equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, 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 50-day simple moving average of $40.40 and a 200 day simple moving average of $40.41. The stock has a market capitalization of $157.84 million, a price-to-earnings ratio of 8.48 and a beta of 0.73.

Acme United Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Acme United by 68.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,649 shares of the company’s stock worth $109,000 after purchasing an additional 1,079 shares in the last quarter. Mink Brook Asset Management LLC raised its position in Acme United by 0.3% during the third quarter. Mink Brook Asset Management LLC now owns 379,893 shares of the company’s stock valued at $15,644,000 after acquiring an additional 951 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Acme United by 1.5% in the third 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 during the last quarter. UBS Group AG grew its position in Acme United by 108.6% in the third quarter. UBS Group AG now owns 18,897 shares of the company’s stock worth $778,000 after acquiring an additional 9,839 shares in the last quarter. Finally, Teton Advisors LLC acquired a new position in shares of Acme United during the 3rd quarter worth $412,000. 62.10% of the stock is owned by institutional investors and hedge funds.

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.