Acme United (NYSE:ACU) Trading 4.9% Higher – Here’s What Happened

Shares of Acme United Co. (NYSE:ACU) rose 4.9% during trading on Thursday . The stock traded as high as $38.87 and last traded at $38.87. Approximately 11,760 shares changed hands during trading, a decline of 8% from the average daily volume of 12,816 shares. The stock had previously closed at $37.05.

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 research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Acme United Trading Up 4.1%

The company has a 50 day moving average of $37.66 and a 200 day moving average of $40.06. The firm has a market cap of $154.03 million, a P/E ratio of 8.27 and a beta of 0.71. 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 posted its earnings results on Tuesday, October 21st. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm earned $0.54 earnings per share.

Acme United Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Friday, October 3rd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, October 3rd. Acme United’s dividend payout ratio is presently 26.23%.

Institutional Trading of Acme United

Several large investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC increased its holdings in shares of Acme United by 1.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 23,659 shares of the company’s stock valued at $981,000 after acquiring an additional 236 shares during the last quarter. HighTower Advisors LLC boosted its position 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 period. Envestnet Asset Management Inc. grew its holdings in Acme United by 1.1% during the third quarter. Envestnet Asset Management Inc. now owns 37,431 shares of the company’s stock valued at $1,541,000 after purchasing an additional 395 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Acme United by 8.2% in the second 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. Finally, First Trust Advisors LP lifted its stake in shares of Acme United by 5.5% in the second quarter. First Trust Advisors LP now owns 10,647 shares of the company’s stock worth $441,000 after buying an additional 551 shares during the last quarter. Institutional investors own 62.10% of the company’s stock.

Acme United Company Profile

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.