Acme United (NYSE:ACU) Trading 1.4% Higher – Here’s What Happened

Acme United Co. (NYSE:ACU) shares were up 1.4% on Thursday . The company traded as high as $37.92 and last traded at $37.54. Approximately 2,898 shares changed hands during trading, a decline of 59% from the average daily volume of 7,145 shares. The stock had previously closed at $37.03.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Acme United from a “buy” rating to a “hold” rating in a report on Monday, October 21st.

Acme United Trading Up 1.4 %

The company has a fifty day moving average of $37.78 and a 200-day moving average of $40.57. The company has a current ratio of 4.41, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $140.40 million, a price-to-earnings ratio of 7.68 and a beta of 0.70.

Acme United Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, January 6th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Monday, January 6th. Acme United’s dividend payout ratio is presently 12.27%.

Hedge Funds Weigh In On Acme United

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new stake in Acme United in the third quarter valued at $163,000. Wilmington Savings Fund Society FSB purchased a new stake in Acme United in the third quarter valued at $196,000. HighTower Advisors LLC raised its position in Acme United by 13.5% in the third quarter. HighTower Advisors LLC now owns 8,832 shares of the company’s stock valued at $364,000 after purchasing an additional 1,048 shares during the period. Ritholtz Wealth Management raised its position in Acme United by 8.9% in the third quarter. Ritholtz Wealth Management now owns 11,258 shares of the company’s stock valued at $469,000 after purchasing an additional 917 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its position in Acme United by 37.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,400 shares of the company’s stock valued at $475,000 after purchasing an additional 3,100 shares during the period. Institutional investors and hedge funds own 62.10% of the company’s stock.

About Acme United

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.