Bank of New York Mellon Corp Has $1.05 Million Position in Acme United Co. (NYSE:ACU)

Bank of New York Mellon Corp lifted its stake in shares of Acme United Co. (NYSE:ACU) by 59.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 28,165 shares of the company’s stock after buying an additional 10,531 shares during the quarter. Bank of New York Mellon Corp owned about 0.75% of Acme United worth $1,051,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ACU. Wilmington Savings Fund Society FSB acquired a new stake in Acme United during the third quarter worth approximately $196,000. Barclays PLC bought a new position in shares of Acme United during the third quarter worth approximately $163,000. Finally, HighTower Advisors LLC lifted its holdings in Acme United by 13.5% during the 3rd quarter. HighTower Advisors LLC now owns 8,832 shares of the company’s stock worth $364,000 after purchasing an additional 1,048 shares during the last quarter. Institutional investors own 62.10% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Acme United from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th.

Acme United Price Performance

Shares of Acme United stock opened at $40.12 on Tuesday. The company has a 50-day simple moving average of $37.62 and a two-hundred day simple moving average of $39.89. Acme United Co. has a twelve month low of $32.85 and a twelve month high of $50.00. The stock has a market capitalization of $150.61 million, a price-to-earnings ratio of 8.20 and a beta of 0.70. The company has a quick ratio of 1.91, a current ratio of 4.41 and a debt-to-equity ratio of 0.30.

Acme United Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, March 26th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, March 26th. Acme United’s dividend payout ratio is currently 24.69%.

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.