Moors & Cabot Inc. reduced its holdings in shares of Acme United Co. (NYSEMKT:ACU) by 49.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,264 shares of the company’s stock after selling 8,201 shares during the quarter. Moors & Cabot Inc. owned approximately 0.25% of Acme United worth $235,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of ACU. Spark Investment Management LLC acquired a new stake in shares of Acme United in the 1st quarter valued at approximately $203,000. Northern Trust Corp acquired a new stake in shares of Acme United in the 2nd quarter valued at approximately $214,000. Neuberger Berman Group LLC acquired a new stake in shares of Acme United in the 2nd quarter valued at approximately $423,000. Advisor Group Inc. acquired a new stake in shares of Acme United in the 2nd quarter valued at approximately $447,000. Finally, Cubic Asset Management LLC boosted its holdings in shares of Acme United by 15.4% in the 2nd quarter. Cubic Asset Management LLC now owns 17,950 shares of the company’s stock valued at $513,000 after buying an additional 2,400 shares during the last quarter.
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In other Acme United news, CEO Walter C. Johnsen sold 2,108 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $27.12, for a total value of $57,168.96. Following the completion of the transaction, the chief executive officer now owns 307,610 shares in the company, valued at approximately $8,342,383.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Walter C. Johnsen sold 2,104 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $27.12, for a total value of $57,060.48. Following the completion of the transaction, the chief executive officer now owns 307,610 shares of the company’s stock, valued at approximately $8,342,383.20. The disclosure for this sale can be found here. Insiders have sold 4,662 shares of company stock valued at $126,640 in the last quarter.
Acme United Co. (NYSEMKT:ACU) remained flat at $24.60 during midday trading on Friday. 51 shares of the company traded hands. Acme United Co. has a 1-year low of $19.49 and a 1-year high of $29.49. The company has a market cap of $82.93 million, a PE ratio of 16.29 and a beta of 0.53. The company’s 50-day moving average is $24.49 and its 200-day moving average is $26.83.
Acme United (NYSEMKT:ACU) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.25). Acme United had a return on equity of 23.79% and a net margin of 7.33%. The company had revenue of $38.85 million for the quarter, compared to the consensus estimate of $45.20 million. On average, analysts predict that Acme United Co. will post $1.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Investors of record on Tuesday, October 3rd will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $0.44 annualized dividend and a yield of 1.79%. Acme United’s dividend payout ratio (DPR) is currently 26.32%.
Separately, ValuEngine raised Acme United from a “hold” rating to a “buy” rating in a report on Monday, October 2nd.
Acme United Profile
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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