Mink Brook Asset Management LLC Grows Stake in Acme United Co. $ACU

Key Points

• Mink Brook Asset Management LLC increased its holdings in Acme United Co. by 22.4%, making it the second largest position in their portfolio, with ownership of approximately 8.53% valued at $12.69 million.
• Acme United recently increased its quarterly dividend from $0.15 to $0.16 per share, representing a yield of 1.5% on an annualized basis.
• The company's stock trading increased by 7.8%, with shares reaching $43.19, while Acme United reported a $1.16 EPS for the last quarter.

Mink Brook Asset Management LLC increased its position in Acme United Co. (NYSE:ACU - Free Report) by 22.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 320,341 shares of the company's stock after buying an additional 58,729 shares during the quarter. Acme United accounts for approximately 13.3% of Mink Brook Asset Management LLC's holdings, making the stock its 2nd biggest holding. Mink Brook Asset Management LLC owned about 8.53% of Acme United worth $12,689,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC increased its stake in shares of Acme United by 2.9% in the first quarter. HighTower Advisors LLC now owns 10,659 shares of the company's stock worth $422,000 after buying an additional 304 shares during the period. Cetera Investment Advisers purchased a new position in shares of Acme United in the first quarter worth $208,000. Diamond Hill Capital Management Inc. increased its stake in shares of Acme United by 39.7% in the first quarter. Diamond Hill Capital Management Inc. now owns 19,569 shares of the company's stock worth $775,000 after buying an additional 5,563 shares during the period. AE Wealth Management LLC purchased a new position in shares of Acme United in the first quarter worth $630,000. Finally, Capital Management Corp VA increased its position in Acme United by 0.7% during the 1st quarter. Capital Management Corp VA now owns 574,071 shares of the company's stock valued at $22,739,000 after purchasing an additional 4,222 shares during the period. 62.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Acme United

In other news, COO Brian S. Olschan sold 1,001 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $40.01, for a total transaction of $40,050.01. Following the sale, the chief operating officer owned 41,209 shares in the company, valued at approximately $1,648,772.09. The trade was a 2.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 34.10% of the company's stock.

Wall Street Analyst Weigh In

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

Acme United Stock Down 0.6%

Shares of ACU stock traded down $0.25 during mid-day trading on Wednesday, reaching $41.02. 4,534 shares of the company's stock traded hands, compared to its average volume of 13,697. Acme United Co. has a 12 month low of $34.35 and a 12 month high of $45.42. The company has a market cap of $155.83 million, a P/E ratio of 8.39 and a beta of 0.68. 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's 50-day moving average price is $41.65 and its 200-day moving average price is $39.91.

Acme United (NYSE:ACU - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.16 EPS for the quarter. Acme United had a net margin of 10.25% and a return on equity of 9.70%.

Acme United Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.16 per share. This is a boost from Acme United's previous quarterly dividend of $0.15. The ex-dividend date was Thursday, July 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.6%. Acme United's dividend payout ratio (DPR) is presently 25.40%.

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.