Diamond Hill Capital Management LLC Investment Advisor Makes New Investment in Acme United Co. $ACU

Key Points

• Diamond Hill Capital Management purchased 34,092 Acme United shares in the second quarter, worth approximately $1.63 million and representing about 0.89% of the company. Institutional investors collectively own 62.1% of ACU.
• Company insiders have been net sellers recently: insiders sold 23,247 shares worth approximately $1.26 million over the past 90 days, including sales by Director Brian Barker and COO Brian S. Olschan.
• ACU opened at $61.91, near its one-year high of $63.17, and recently paid a quarterly dividend of $0.16, equivalent to an annualized $0.64 dividend and a 1.0% yield.

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Acme United Co. (NYSE:ACU - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,092 shares of the company's stock, valued at approximately $1,627,000. Diamond Hill Capital Management LLC Investment Advisor owned approximately 0.89% of Acme United as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ACU. Jane Street Group LLC increased its position in Acme United by 61.0% during the first 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. Geode Capital Management LLC boosted its stake in shares of Acme United by 116.6% during the second quarter. Geode Capital Management LLC now owns 75,267 shares of the company's stock valued at $3,120,000 after acquiring an additional 40,524 shares during the last quarter. Cetera Investment Advisers increased its position in Acme United by 8.2% during the 2nd quarter. Cetera Investment Advisers now owns 5,672 shares of the company's stock worth $235,000 after purchasing an additional 428 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in Acme United during the 2nd quarter worth about $65,000. Finally, New York State Common Retirement Fund acquired a new position in Acme United in the 2nd quarter valued at about $104,000. Institutional investors and hedge funds own 62.10% of the company's stock.

Insider Buying and Selling at Acme United

In related news, Director Brian Barker sold 3,821 shares of the company's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $60.50, for a total transaction of $231,170.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian S. Olschan sold 5,304 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $57.07, for a total value of $302,699.28. Following the completion of the sale, the chief operating officer directly owned 41,670 shares of the company's stock, valued at $2,378,106.90. The trade was a 11.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 23,247 shares of company stock valued at $1,258,677. Company insiders own 29.50% of the company's stock.

Acme United Stock Performance

Shares of ACU opened at $61.91 on Tuesday. Acme United Co. has a 1 year low of $35.50 and a 1 year high of $63.17. The company's 50 day simple moving average is $50.51 and its 200 day simple moving average is $46.00. The company has a market capitalization of $235.88 million, a price-to-earnings ratio of 12.66 and a beta of 0.47. 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 Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.0%. Acme United's dividend payout ratio (DPR) is presently 26.89%.

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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