Acme United (NYSE:ACU) Stock Price Up 1.4% – Time to Buy?

Acme United Co. (NYSE:ACU)’s share price rose 1.4% during trading on Thursday . The stock traded as high as $37.92 and last traded at $37.54. Approximately 2,898 shares traded hands during mid-day 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 downgraded Acme United from a “buy” rating to a “hold” rating in a research report on Monday, October 21st.

Acme United Stock Up 1.5 %

The firm has a market capitalization of $142.53 million, a PE ratio of 7.79 and a beta of 0.70. The company has a fifty day simple moving average of $37.66 and a two-hundred day simple moving average of $40.52. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Monday, January 6th. Acme United’s dividend payout ratio is 12.27%.

Institutional Investors Weigh In On Acme United

Several hedge funds have recently made changes to their positions in the company. Capital Management Corp VA lifted its stake in shares of Acme United by 2.9% during the 4th quarter. Capital Management Corp VA now owns 569,849 shares of the company’s stock worth $21,272,000 after purchasing an additional 16,011 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Acme United by 25.0% during the 4th quarter. Royce & Associates LP now owns 169,664 shares of the company’s stock worth $6,334,000 after purchasing an additional 33,952 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Acme United by 15.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 46,487 shares of the company’s stock worth $1,735,000 after purchasing an additional 6,127 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Acme United by 59.7% during the 4th quarter. Bank of New York Mellon Corp now owns 28,165 shares of the company’s stock worth $1,051,000 after purchasing an additional 10,531 shares during the last quarter. Finally, Aristides Capital LLC lifted its stake in shares of Acme United by 4.0% during the 4th quarter. Aristides Capital LLC now owns 17,567 shares of the company’s stock worth $656,000 after purchasing an additional 670 shares during the last quarter. 62.10% of the stock is currently owned by hedge funds and other institutional investors.

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.