Bard Associates Inc. Acquires New Holdings in Acme United Co. $ACU

Key Points

• Bard Associates acquired 108,195 shares of Acme United in the second quarter, valued at approximately $5.16 million and representing about 2.84% of the company. Institutional investors and hedge funds collectively own 62.10% of ACU.
• Acme United shares opened at $60.96, with a market capitalization of $232.26 million and a 12-month trading range of $35.50 to $63.40. The company also maintains a quarterly dividend of $0.16, equivalent to a 1.0% annual yield.
• Company insiders have been selling shares: insiders sold 30,555 shares worth approximately $1.71 million over the past 90 days, while insiders retain a 29.50% ownership stake.

Bard Associates Inc. bought a new stake in Acme United Co. (NYSE:ACU - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 108,195 shares of the company's stock, valued at approximately $5,163,000. Acme United makes up about 1.1% of Bard Associates Inc.'s investment portfolio, making the stock its 24th largest position. Bard Associates Inc. owned approximately 2.84% of Acme United as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Acme United by 3,048.9% during the 2nd quarter. Bank of America Corp DE now owns 1,480 shares of the company's stock worth $61,000 after purchasing an additional 1,433 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Acme United in the second quarter valued at approximately $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Acme United in the second quarter valued at approximately $75,000. Raymond James Financial Inc. bought a new stake in shares of Acme United during the second quarter worth $76,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Acme United during the second quarter worth $104,000. 62.10% of the stock is currently owned by institutional investors and hedge funds.

Acme United Trading Down 1.8%

ACU opened at $60.96 on Friday. The stock has a market capitalization of $232.26 million, a P/E ratio of 12.47 and a beta of 0.47. 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 $63.40. The firm's fifty day simple moving average is $51.85 and its 200 day simple moving average is $46.53.

Acme United Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Rex Lynn Davidson sold 3,684 shares of Acme United stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $56.48, for a total transaction of $208,072.32. Following the completion of the transaction, the director directly owned 6,228 shares in the company, valued at approximately $351,757.44. The trade was a 37.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Barker sold 3,821 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $60.50, for a total transaction of $231,170.50. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,555 shares of company stock valued at $1,707,973 over the last 90 days. 29.50% of the stock is currently owned by insiders.

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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