Acme United (NYSE:ACU) Trading 0.5% Higher - Here's Why

Key Points

• Acme United shares edged up 0.5% on Thursday, trading as high as $48.79 before last changing hands at $48.01. Trading volume was lighter than usual, with about 10,292 shares changing hands versus an average of 16,915.
• The company recently announced a quarterly dividend of $0.16 per share, payable on July 23 to shareholders of record on July 2. That works out to a $0.64 annualized dividend yield of 1.3%.
• Insider activity included COO Brian S. Olschan selling 4,833 shares at $42.00 each, trimming his holdings by 10.51%. Despite that, institutional investors still hold a large majority of the stock at 62.10%.

Acme United Co. (NYSE:ACU - Get Free Report) shot up 0.5% on Thursday . The stock traded as high as $48.79 and last traded at $48.01. Approximately 10,292 shares changed hands during trading, a decline of 39% from the average session volume of 16,915 shares. The stock had previously closed at $47.79.

Acme United Stock Up 0.5%

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 company has a fifty day simple moving average of $44.09 and a 200-day simple moving average of $43.71. The firm has a market cap of $182.92 million, a P/E ratio of 9.82 and a beta of 0.48.

Acme United Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.64 annualized dividend and a yield of 1.3%. Acme United's payout ratio is currently 27.59%.

Insider Buying and Selling at Acme United

In other Acme United news, COO Brian S. Olschan sold 4,833 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $42.00, for a total value of $202,986.00. Following the completion of the transaction, the chief operating officer directly owned 41,172 shares in the company, valued at $1,729,224. This represents a 10.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 29.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ACU. Indivisible Partners bought a new stake in Acme United during the fourth quarter valued at about $562,000. Capital Management Corp VA boosted its stake in shares of Acme United by 0.5% in the fourth quarter. Capital Management Corp VA now owns 540,341 shares of the company's stock worth $21,781,000 after acquiring an additional 2,510 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Acme United by 68.7% in the third quarter. JPMorgan Chase & Co. now owns 2,649 shares of the company's stock worth $109,000 after acquiring an additional 1,079 shares during the period. Mink Brook Asset Management LLC grew its position in shares of Acme United by 0.3% during the third quarter. Mink Brook Asset Management LLC now owns 379,893 shares of the company's stock worth $15,644,000 after purchasing an additional 951 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of Acme United during the first quarter worth about $267,000. Hedge funds and other institutional investors own 62.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.