Acme United (NYSE:ACU) Trading Up 2.5% – Here’s Why

Acme United Co. (NYSE:ACU)’s stock price rose 2.5% during trading on Friday . The company traded as high as $45.60 and last traded at $44.80. Approximately 16,722 shares traded hands during mid-day trading, an increase of 81% from the average daily volume of 9,242 shares. The stock had previously closed at $43.69.

Analyst Upgrades and Downgrades

Separately, Singular Research raised Acme United from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Acme United currently has a consensus rating of “Strong Buy”.

Acme United Trading Up 2.5%

The company has a debt-to-equity ratio of 0.30, a current ratio of 4.41 and a quick ratio of 1.91. The firm has a fifty day simple moving average of $42.53 and a 200-day simple moving average of $40.62. The firm has a market cap of $170.55 million, a P/E ratio of 9.16 and a beta of 0.74.

Acme United Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 27th. Investors of record on Tuesday, January 6th were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, January 6th. This represents a $0.64 annualized dividend and a yield of 1.4%. Acme United’s dividend payout ratio (DPR) is presently 26.23%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACU. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Acme United in the 2nd quarter worth about $31,000. Bank of America Corp DE increased its holdings in Acme United by 3,048.9% during the 2nd quarter. Bank of America Corp DE now owns 1,480 shares of the company’s stock worth $61,000 after purchasing an additional 1,433 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Acme United in the second quarter worth approximately $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Acme United in the second quarter valued at approximately $75,000. Finally, Raymond James Financial Inc. bought a new stake in Acme United during the second quarter worth $76,000. 62.10% of the stock is currently owned by institutional investors and hedge funds.

About Acme United

Acme United Corporation is a diversified manufacturer and marketer of cutting, measuring and safety products designed for consumer, professional and industrial end markets. The company’s product portfolio spans shears, scissors, cutters, rulers, pencil sharpeners, first aid kits and medical products, as well as fishing knives, survival tools and related accessories. Acme United serves a wide range of end?use channels, including office supply, school, hardware, mass merchandise and sporting goods retail.

Founded in the 19th century and headquartered in Shelton, Connecticut, Acme United operates through a collection of well?established brands.