Short Interest in Acme United Co. (NYSE:ACU) Drops By 27.0%

Key Points

• Short interest in Acme United Co. (NYSE:ACU) dropped by 27.0% in August, totaling 65,500 shares, with a days-to-cover ratio of 3.6 days.
• Institutional investors now own 62.10% of Acme United's stock, with significant recent investments from several firms, including a 3,048.9% increase in holdings by Bank of America.
• Acme United reported a quarterly earnings per share of $1.16 with a net margin of 10.25% and maintains a market cap of $156.86 million.

Acme United Co. (NYSE:ACU - Get Free Report) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 65,500 shares, a drop of 27.0% from the August 15th total of 89,700 shares. Based on an average daily volume of 18,200 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.0% of the company's stock are short sold. Currently, 2.0% of the company's stock are short sold. Based on an average daily volume of 18,200 shares, the days-to-cover ratio is presently 3.6 days.

Institutional Trading of Acme United

Institutional investors have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Acme United during the second quarter worth about $31,000. GAMMA Investing LLC bought a new stake in shares of Acme United in the first quarter worth $35,000. Bank of America Corp DE boosted its holdings in Acme United by 3,048.9% during the second 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 during the last quarter. JPMorgan Chase & Co. acquired a new stake in Acme United in the 2nd quarter valued at $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Acme United during the 2nd quarter worth about $75,000. 62.10% of the stock is currently owned by institutional investors.

Acme United Price Performance

NYSE ACU opened at $41.29 on Wednesday. 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 has a 52-week low of $34.35 and a 52-week high of $45.42. The business has a 50 day simple moving average of $42.09 and a 200 day simple moving average of $40.42. The stock has a market cap of $156.86 million, a price-to-earnings ratio of 8.44 and a beta of 0.70.

Acme United (NYSE:ACU - Get Free Report) last released its quarterly earnings results 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 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.

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