Mink Brook Asset Management LLC Purchases 58,601 Shares of Acme United Co. $ACU

Mink Brook Asset Management LLC boosted its position in shares of Acme United Co. (NYSE:ACU) by 18.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 378,942 shares of the company’s stock after buying an additional 58,601 shares during the period. Acme United comprises 13.6% of Mink Brook Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Mink Brook Asset Management LLC owned about 0.10% of Acme United worth $15,707,000 at the end of the most recent reporting period.

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

Acme United Trading Up 4.1%

Shares of ACU opened at $40.46 on Friday. Acme United Co. has a 12-month low of $34.35 and a 12-month high of $45.25. The firm has a market capitalization of $154.03 million, a P/E ratio of 8.27 and a beta of 0.71. The firm has a 50-day moving average price of $37.66 and a 200 day moving average price of $40.06. The company has a current ratio of 4.41, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30.

Acme United (NYSE:ACU) last posted its earnings results on Tuesday, October 21st. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. Acme United had a net margin of 10.25% and a return on equity of 9.70%. During the same period last year, the business posted $0.54 EPS.

Acme United Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Friday, October 3rd were given a $0.16 dividend. The ex-dividend date was Friday, October 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.6%. Acme United’s payout ratio is currently 26.23%.

Analysts Set New Price Targets

Separately, Singular Research upgraded shares of Acme United from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Strong Buy”.

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.