Acme United (NYSE:ACU) Trading Down 0.9% - What's Next?

Acme United Co. (NYSE:ACU - Get Free Report) was down 0.9% on Friday . The stock traded as low as $41.00 and last traded at $41.61. Approximately 11,717 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 14,867 shares. The stock had previously closed at $42.00.

Analyst Upgrades and Downgrades

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

Acme United Stock Performance

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 50 day moving average of $40.28 and a 200 day moving average of $38.93. The firm has a market cap of $159.16 million, a price-to-earnings ratio of 8.59 and a beta of 0.65.

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

Acme United Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, July 3rd. This is a positive change from Acme United's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 1.52%. Acme United's dividend payout ratio is 26.12%.

Insider Activity at Acme United

In other news, COO Brian S. Olschan sold 1,001 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $40.01, for a total transaction of $40,050.01. Following the completion of the transaction, the chief operating officer directly owned 41,209 shares of the company's stock, valued at approximately $1,648,772.09. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 34.10% of the company's stock.

Hedge Funds Weigh In On Acme United

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC grew its holdings in Acme United by 61.0% in the 1st quarter. Jane Street Group LLC now owns 9,839 shares of the company's stock worth $390,000 after buying an additional 3,729 shares in the last quarter. Nantahala Capital Management LLC acquired a new stake in shares of Acme United during the 1st quarter valued at $809,000. Mink Brook Asset Management LLC lifted its position in shares of Acme United by 22.4% during the 1st quarter. Mink Brook Asset Management LLC now owns 320,341 shares of the company's stock valued at $12,689,000 after acquiring an additional 58,729 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Acme United by 2.9% during the 1st quarter. HighTower Advisors LLC now owns 10,659 shares of the company's stock valued at $422,000 after acquiring an additional 304 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Acme United during the 1st quarter valued at $208,000. 62.10% of the stock is owned by institutional investors.

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.