Acme United Co. (NYSE:ACU) Announces Dividend Increase - $0.16 Per Share

Acme United Co. (NYSE:ACU - Get Free Report) declared a quarterly dividend on Wednesday, June 18th, RTT News reports. Shareholders of record on Thursday, July 3rd will be given a dividend of 0.16 per share on Thursday, July 24th. This represents a $0.64 dividend on an annualized basis and a yield of 1.70%. This is a 6.7% increase from Acme United's previous quarterly dividend of $0.15.

Acme United has a payout ratio of 35.5% meaning its dividend is sufficiently covered by earnings.

Acme United Trading Up 1.1%

Shares of ACU traded up $0.42 during midday trading on Wednesday, reaching $37.61. The company had a trading volume of 3,641 shares, compared to its average volume of 13,038. Acme United has a 1-year low of $32.85 and a 1-year high of $50.00. The company has a quick ratio of 1.91, a current ratio of 4.41 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $39.39 and a 200-day simple moving average of $38.75. The stock has a market cap of $142.56 million, a PE ratio of 7.69 and a beta of 0.65.

Acme United (NYSE:ACU - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The company reported $0.41 earnings per share (EPS) for the quarter. Acme United had a net margin of 10.25% and a return on equity of 9.70%. During the same period last year, the company posted $0.39 EPS.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Acme United from a "hold" rating to a "buy" rating in a research note on Friday, May 9th.

Insider Activity at Acme United

In related news, COO Brian S. Olschan sold 809 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $39.95, for a total value of $32,319.55. Following the completion of the sale, the chief operating officer now owns 42,210 shares in the company, valued at $1,686,289.50. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 34.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Acme United

A hedge fund recently raised its stake in Acme United stock. Jane Street Group LLC lifted its position in shares of Acme United Co. (NYSE:ACU - Free Report) by 61.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,839 shares of the company's stock after buying an additional 3,729 shares during the period. Jane Street Group LLC owned 0.26% of Acme United worth $390,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 62.10% of the company's stock.

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.

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