Acme United (NYSE:ACU) Trading 1.4% Higher – Here’s What Happened

Acme United Co. (NYSE:ACU) shares traded up 1.4% during trading on Thursday . The stock traded as high as $37.92 and last traded at $37.54. 2,898 shares traded hands during trading, a decline of 59% from the average session volume of 7,145 shares. The stock had previously closed at $37.03.

Analysts Set New Price Targets

Separately, StockNews.com cut Acme United from a “buy” rating to a “hold” rating in a research note on Monday, October 21st.

Acme United Price Performance

The stock has a market capitalization of $140.40 million, a price-to-earnings ratio of 7.68 and a beta of 0.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 4.41. The company has a 50 day moving average of $37.78 and a 200 day moving average of $40.57.

Acme United Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Monday, January 6th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, January 6th. This represents a $0.60 annualized dividend and a yield of 1.60%. Acme United’s payout ratio is 12.27%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC acquired a new position in shares of Acme United during the 3rd quarter worth about $163,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Acme United during the 3rd quarter worth about $196,000. HighTower Advisors LLC boosted its position in shares of Acme United by 13.5% during the 3rd quarter. HighTower Advisors LLC now owns 8,832 shares of the company’s stock worth $364,000 after acquiring an additional 1,048 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Acme United by 8.9% during the 3rd quarter. Ritholtz Wealth Management now owns 11,258 shares of the company’s stock worth $469,000 after acquiring an additional 917 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Acme United by 37.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,400 shares of the company’s stock valued at $475,000 after purchasing an additional 3,100 shares during the period. 62.10% of the stock is owned by institutional investors and hedge funds.

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.