Bank of New York Mellon Corp Sells 290 Shares of Acme United Co. (NYSE:ACU)

Bank of New York Mellon Corp lessened its stake in shares of Acme United Co. (NYSE:ACU) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,439 shares of the company’s stock after selling 290 shares during the quarter. Bank of New York Mellon Corp owned about 0.48% of Acme United worth $612,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its holdings in Acme United by 71.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 26,755 shares of the company’s stock worth $1,257,000 after buying an additional 11,113 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Acme United by 117.3% during the 1st quarter. Acadian Asset Management LLC now owns 29,872 shares of the company’s stock worth $1,400,000 after purchasing an additional 16,128 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Acme United by 8.1% in the first quarter. Vanguard Group Inc. now owns 142,858 shares of the company’s stock worth $6,713,000 after purchasing an additional 10,675 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Acme United by 9.2% in the first quarter. Janney Montgomery Scott LLC now owns 15,958 shares of the company’s stock valued at $750,000 after purchasing an additional 1,338 shares in the last quarter. Finally, Evercore Wealth Management LLC purchased a new position in shares of Acme United during the fourth quarter valued at approximately $219,000. 62.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ACU shares. StockNews.com raised shares of Acme United from a “hold” rating to a “buy” rating in a research report on Saturday, July 20th. Singular Research raised Acme United from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, July 24th.

Acme United Stock Down 3.2 %

ACU opened at $40.77 on Tuesday. Acme United Co. has a 12 month low of $26.32 and a 12 month high of $50.99. The company has a market cap of $149.28 million, a PE ratio of 8.49 and a beta of 0.65. The company has a current ratio of 3.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average of $41.42 and a 200 day moving average of $40.08.

Acme United (NYSE:ACU) last posted its earnings results on Friday, July 19th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. Acme United had a return on equity of 10.14% and a net margin of 10.09%. The business had revenue of $55.43 million during the quarter, compared to analyst estimates of $56.50 million. On average, sell-side analysts expect that Acme United Co. will post 2.78 EPS for the current year.

Insiders Place Their Bets

In related news, COO Brian S. Olschan sold 3,149 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $40.88, for a total value of $128,731.12. Following the sale, the chief operating officer now directly owns 41,103 shares of the company’s stock, valued at $1,680,290.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 34.10% of the company’s stock.

Acme United 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.