Nantahala Capital Management LLC Makes New Investment in Acme United Co. $ACU

Key Points

• Nantahala Capital Management LLC invested approximately $809,000 in Acme United Co. by acquiring 20,427 shares, representing around 0.54% ownership of the company.
• Acme United has declared an increased quarterly dividend of $0.16, up from $0.15, reflecting a 1.5% dividend yield and a payout ratio of 25.40%.
• Wall Street analysts upgraded Acme United's rating from "hold" to "buy", indicating positive market sentiment towards the company's future prospects.

Nantahala Capital Management LLC acquired a new stake in Acme United Co. (NYSE:ACU - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,427 shares of the company's stock, valued at approximately $809,000. Nantahala Capital Management LLC owned 0.54% of Acme United as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new position in Acme United in the fourth quarter valued at about $321,000. GAMMA Investing LLC purchased a new position in Acme United in the first quarter valued at about $35,000. Mink Brook Asset Management LLC increased its holdings in Acme United by 22.4% in the first quarter. Mink Brook Asset Management LLC now owns 320,341 shares of the company's stock valued at $12,689,000 after buying an additional 58,729 shares in the last quarter. Jane Street Group LLC purchased a new position in Acme United in the fourth quarter valued at about $228,000. Finally, Citadel Advisors LLC increased its holdings in Acme United by 33.8% in the fourth quarter. Citadel Advisors LLC now owns 23,743 shares of the company's stock valued at $886,000 after buying an additional 5,999 shares in the last quarter. Institutional investors and hedge funds own 62.10% of the company's stock.

Acme United Price Performance

Shares of ACU traded down $0.07 during mid-day trading on Friday, reaching $44.36. 11,507 shares of the company's stock were exchanged, compared to its average volume of 13,578. 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 has a 50-day simple moving average of $42.22 and a two-hundred day simple moving average of $40.19. Acme United Co. has a 52-week low of $34.35 and a 52-week high of $45.42. The company has a market cap of $168.52 million, a price-to-earnings ratio of 9.07 and a beta of 0.70.

Acme United (NYSE:ACU - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.16 earnings per share 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 disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.16 per share. This is a positive change from Acme United's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.4%. Acme United's dividend payout ratio is 25.40%.

Analyst Ratings Changes

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

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.