Advisor Group Inc. acquired a new stake in Acme United Co. (NYSEMKT:ACU) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,617 shares of the company’s stock, valued at approximately $447,000. Advisor Group Inc. owned approximately 0.47% of Acme United as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Royce & Associates LP grew its holdings in shares of Acme United by 63.8% during the 2nd quarter. Royce & Associates LP now owns 129,865 shares of the company’s stock worth $3,714,000 after purchasing an additional 50,600 shares in the last quarter. Cubic Asset Management LLC grew its holdings in shares of Acme United by 15.4% during the 2nd quarter. Cubic Asset Management LLC now owns 17,950 shares of the company’s stock worth $513,000 after purchasing an additional 2,400 shares in the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Acme United during the 2nd quarter worth approximately $423,000. Dimensional Fund Advisors LP boosted its stake in Acme United by 5.2% in the 1st 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 in the last quarter. Finally, Spark Investment Management LLC boosted its stake in Acme United by 58.0% in the 2nd quarter. Spark Investment Management LLC now owns 11,481 shares of the company’s stock valued at $328,000 after buying an additional 4,214 shares in the last quarter.
In related news, CEO Walter C. Johnsen sold 2,104 shares of Acme United stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $27.12, for a total transaction of $57,060.48. Following the completion of the transaction, the chief executive officer now directly owns 307,610 shares of the company’s stock, valued at approximately $8,342,383.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Walter C. Johnsen sold 2,108 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $27.12, for a total transaction of $57,168.96. Following the completion of the sale, the chief executive officer now directly owns 307,610 shares of the company’s stock, valued at $8,342,383.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,662 shares of company stock worth $126,640.
Separately, ValuEngine downgraded Acme United from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st.
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Shares of Acme United Co. (NYSEMKT ACU) opened at 25.085 on Wednesday. The company has a market cap of $84.56 million, a price-to-earnings ratio of 16.613 and a beta of 0.53. The company’s 50-day moving average price is $24.46 and its 200 day moving average price is $26.81. Acme United Co. has a 12-month low of $19.49 and a 12-month high of $29.49.
Acme United (NYSEMKT:ACU) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.25). The business had revenue of $38.85 million for the quarter, compared to analysts’ expectations of $45.20 million. Acme United had a return on equity of 23.79% and a net margin of 7.33%. Equities analysts predict that Acme United Co. will post $1.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Shareholders of record on Tuesday, October 3rd will be issued a $0.11 dividend. The ex-dividend date is Monday, October 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 1.75%. Acme United’s dividend payout ratio is currently 26.32%.
Acme United Company 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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