179,760 Shares in Acme United Co. $ACU Bought by BlackRock Inc.

Key Points

• BlackRock acquired 179,760 shares of Acme United in the second quarter, valued at approximately $8.6 million and representing about 4.72% of the company. Institutional investors collectively own 62.10% of ACU.
• Company insiders have been selling shares: insiders sold 25,722 shares worth roughly $1.5 million over the past 90 days, including sales by a director and the COO.
• Acme United shares opened at $63.14, near their 52-week high of $64.17. The company recently paid a quarterly dividend of $0.16 per share, equivalent to an annualized yield of about 1.0%.

BlackRock Inc. purchased a new stake in Acme United Co. (NYSE:ACU - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 179,760 shares of the company's stock, valued at approximately $8,578,000. BlackRock Inc. owned about 4.72% of Acme United at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ACU. Bank of America Corp DE increased its holdings 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 worth $61,000 after acquiring an additional 1,433 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Acme United during the 2nd quarter valued at about $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Acme United in the 2nd quarter valued at approximately $75,000. Raymond James Financial Inc. acquired a new position in shares of Acme United in the 2nd quarter valued at approximately $76,000. Finally, New York State Common Retirement Fund bought a new stake in Acme United during the 2nd quarter worth approximately $104,000. Institutional investors and hedge funds own 62.10% of the company's stock.

Insiders Place Their Bets

In other Acme United news, Director Rex Lynn Davidson sold 3,684 shares of Acme United stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $56.48, for a total value of $208,072.32. Following the transaction, the director owned 6,228 shares in the company, valued at $351,757.44. The trade was a 37.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brian S. Olschan sold 7,308 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $61.48, for a total value of $449,295.84. Following the transaction, the chief operating officer directly owned 41,172 shares of the company's stock, valued at approximately $2,531,254.56. The trade was a 15.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 25,722 shares of company stock valued at $1,504,987 in the last 90 days. 29.50% of the stock is currently owned by insiders.

Acme United Stock Performance

Shares of ACU stock opened at $63.14 on Friday. 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 Co. has a 52 week low of $35.50 and a 52 week high of $64.17. The company's 50 day moving average price is $55.22 and its two-hundred day moving average price is $47.84. The company has a market capitalization of $240.56 million, a P/E ratio of 12.91 and a beta of 0.49.

Acme United Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. Acme United's payout ratio is currently 26.89%.

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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