Bank of New York Mellon Corp Invests $1.51 Million in Acme United Co. $ACU

Bank of New York Mellon Corp bought a new stake in Acme United Co. (NYSE:ACU - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 31,613 shares of the company's stock, valued at approximately $1,509,000. Bank of New York Mellon Corp owned about 0.83% of Acme United at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ACU. Empowered Funds LLC bought a new position in Acme United during the 1st quarter worth approximately $234,000. NewEdge Advisors LLC purchased a new position in shares of Acme United in the first quarter worth $267,000. Renaissance Technologies LLC raised its holdings in Acme United by 0.4% during the 1st quarter. Renaissance Technologies LLC now owns 116,558 shares of the company's stock valued at $5,235,000 after buying an additional 451 shares during the last quarter. James Investment Research Inc. purchased a new stake in Acme United during the 1st quarter valued at $217,000. Finally, Barclays PLC grew its holdings in Acme United by 12.2% in the 4th quarter. Barclays PLC now owns 5,274 shares of the company's stock worth $213,000 after acquiring an additional 575 shares during the last quarter. 62.10% of the stock is currently owned by hedge funds and other institutional investors.

Acme United Price Performance

ACU stock opened at $61.84 on Thursday. The stock has a market capitalization of $235.61 million, a price-to-earnings ratio of 12.65 and a beta of 0.49. The firm's 50-day moving average price is $56.05 and its two-hundred day moving average price is $48.25. The company has a current ratio of 4.41, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. Acme United Co. has a 12-month low of $35.50 and a 12-month high of $64.17.

Acme United Announces Dividend

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

Insider Activity at Acme United

In other news, Director Rex Lynn Davidson sold 3,684 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $56.48, for a total value of $208,072.32. Following the completion of the sale, the director directly owned 6,228 shares of the company's stock, valued at approximately $351,757.44. This trade represents a 37.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Brian Olschan sold 7,308 shares of Acme United stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $61.48, for a total transaction of $449,295.84. Following the sale, the chief operating officer directly owned 41,172 shares in the company, valued at $2,531,254.56. The trade was a 15.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 25,722 shares of company stock worth $1,504,987 over the last quarter. Corporate insiders own 29.50% of the company's stock.

Acme United Profile

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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