Acme United (NYSE:ACU) Announces Quarterly Earnings Results

Key Points

• Acme United reported a quarterly earnings per share (EPS) of $0.46, exceeding the consensus estimate of $0.45 by $0.01.
• The company will pay a quarterly dividend of $0.16 per share on October 23rd, representing an annualized dividend of $0.64 and a yield of 1.7%.
• 62.10% of Acme United's stock is owned by institutional investors, with notable increases in stakes from several hedge funds recently.

Acme United (NYSE:ACU - Get Free Report) announced its earnings results on Tuesday. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01, RTT News reports. Acme United had a net margin of 10.25% and a return on equity of 9.70%.

Acme United Stock Performance

Shares of ACU stock opened at $38.45 on Tuesday. The company has a market capitalization of $146.07 million, a P/E ratio of 7.86 and a beta of 0.71. Acme United has a 52 week low of $34.35 and a 52 week high of $45.42. The company's 50 day moving average price is $41.20 and its two-hundred day moving average price is $40.61. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, October 3rd. Acme United's dividend payout ratio (DPR) is 25.40%.

Hedge Funds Weigh In On Acme United

Several hedge funds have recently made changes to their positions in the business. Bridgeway Capital Management LLC grew its stake 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 worth $981,000 after acquiring an additional 236 shares in the last quarter. Cetera Investment Advisers grew its stake 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 buying an additional 428 shares in the last quarter. First Trust Advisors LP grew 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 valued at $441,000 after buying an additional 551 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Acme United by 3,048.9% in the second quarter. Bank of America Corp DE now owns 1,480 shares of the company's stock valued at $61,000 after buying an additional 1,433 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of Acme United in the second quarter valued at $65,000. 62.10% of the stock is owned by institutional investors.

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.

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