Renaissance Technologies LLC boosted its stake in Acme United Co. (NYSEMKT:ACU) by 8.2% during the first quarter, Holdings Channel reports. The firm owned 118,600 shares of the company’s stock after buying an additional 9,000 shares during the period. Renaissance Technologies LLC’s holdings in Acme United were worth $3,322,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Spark Investment Management LLC bought a new stake in shares of Acme United during the first quarter valued at $203,000. Royce & Associates LP boosted its stake in shares of Acme United by 19.6% in the first quarter. Royce & Associates LP now owns 79,265 shares of the company’s stock valued at $2,227,000 after buying an additional 13,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Acme United by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 115,056 shares of the company’s stock valued at $3,233,000 after buying an additional 5,703 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its stake in shares of Acme United by 8.7% in the first quarter. North Star Investment Management Corp. now owns 632,132 shares of the company’s stock valued at $17,706,000 after buying an additional 50,651 shares during the last quarter.
Shares of Acme United Co. (NYSEMKT ACU) traded up 0.60% on Friday, hitting $26.91. The company’s stock had a trading volume of 183 shares. The firm has a market cap of $90.71 million, a price-to-earnings ratio of 17.82 and a beta of 0.53. The stock has a 50-day moving average price of $27.85 and a 200 day moving average price of $26.92. Acme United Co. has a one year low of $19.29 and a one year high of $29.49.
Acme United (NYSEMKT:ACU) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by $0.25. Acme United had a net margin of 7.33% and a return on equity of 23.79%. The company had revenue of $38.85 million during the quarter, compared to analysts’ expectations of $45.20 million. Equities research analysts predict that Acme United Co. will post $1.75 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Thursday, July 20th were given a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, July 18th. This is a boost from Acme United’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.64%. Acme United’s payout ratio is 26.32%.
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Separately, Zacks Investment Research upgraded Acme United from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st.
In other news, COO Brian S. Olschan sold 3,010 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $28.07, for a total transaction of $84,490.70. Following the transaction, the chief operating officer now directly owns 40,263 shares in the company, valued at $1,130,182.41. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Walter C. Johnsen sold 1,393 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $27.51, for a total transaction of $38,321.43. Following the transaction, the chief executive officer now owns 306,899 shares in the company, valued at $8,442,791.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,890 shares of company stock valued at $330,624.
About Acme United
Acme United Corporation is a supplier of cutting, measuring, first aid and sharpening products to the school, home, office, hardware, sporting goods and industrial markets. The Company operates in three segments: United States (including Asian operations), Canada and Europe. Its operations in the United States, Canada and Europe are involved in product development, marketing, sales, administrative and distribution activities.
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