Acme United (NYSE:ACU) Stock Price Down 2.5% - Here's What Happened

Key Points

• Acme United (NYSE:ACU) shares fell about 2.5% on Friday to $42.41 (intraday low $41.86), with trading volume roughly in line with the stock's average session volume.
• The company has a market cap of $161.5 million and a P/E of 8.67, and it pays a quarterly dividend of $0.16 ($0.64 annualized, ~1.5% yield) with a payout ratio of 25.7%.
• Institutional ownership is high at about 62.1%, with recent activity including Diamond Hill boosting its stake and several firms (Indivisible Partners, Bank of America, Raymond James, Mirae) initiating or increasing positions.

Acme United Co. (NYSE:ACU - Get Free Report)'s stock price traded down 2.5% during mid-day trading on Friday . The stock traded as low as $41.86 and last traded at $42.41. 14,931 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 14,972 shares. The stock had previously closed at $43.48.

Acme United Price Performance

The firm has a market capitalization of $161.50 million, a PE ratio of 8.67 and a beta of 0.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.41 and a quick ratio of 1.91. The firm has a 50-day simple moving average of $44.45 and a 200-day simple moving average of $41.47.

Acme United Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, March 25th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, March 25th. Acme United's dividend payout ratio (DPR) is presently 25.70%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Diamond Hill Capital Management Inc. boosted its stake in shares of Acme United by 12.2% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 21,812 shares of the company's stock worth $879,000 after acquiring an additional 2,376 shares during the last quarter. Indivisible Partners purchased a new position in shares of Acme United during the 4th quarter worth $562,000. Bank of America Corp DE boosted its stake in shares of Acme United by 3,048.9% during the 2nd quarter. Bank of America Corp DE now owns 1,480 shares of the company's stock worth $61,000 after acquiring an additional 1,433 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Acme United during the 2nd quarter worth $76,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Acme United during the 2nd quarter worth $75,000. 62.10% of the stock is owned by hedge funds and other institutional investors.

About Acme United

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.

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