Acme United (NYSE:ACU) Announces Earnings Results

Acme United (NYSE:ACU) announced its quarterly earnings results on Friday. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.19), reports. The firm had revenue of $48.17 million during the quarter, compared to analysts’ expectations of $52.40 million. Acme United had a net margin of 10.09% and a return on equity of 10.14%.

Acme United Trading Up 0.5 %

Acme United stock traded up $0.22 during trading on Monday, reaching $41.42. 4,069 shares of the company were exchanged, compared to its average volume of 20,681. Acme United has a 52-week low of $28.03 and a 52-week high of $50.99. The company has a market capitalization of $151.68 million, a P/E ratio of 8.58 and a beta of 0.65. The stock’s 50 day simple moving average is $42.22 and its two-hundred day simple moving average is $40.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.79 and a quick ratio of 1.77.

Acme United Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Friday, October 4th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.60 dividend on an annualized basis and a yield of 1.45%. Acme United’s dividend payout ratio is currently 12.50%.

Insider Activity at Acme United

In related news, COO Brian S. Olschan sold 3,149 shares of Acme United stock in a transaction on Friday, July 26th. The shares were sold at an average price of $40.88, for a total transaction of $128,731.12. Following the sale, the chief operating officer now directly owns 41,103 shares in the company, valued at $1,680,290.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 34.10% of the company’s stock.

Institutional Investors Weigh In On Acme United

Several hedge funds have recently modified their holdings of ACU. Sei Investments Co. purchased a new position in Acme United in the second quarter valued at about $209,000. Diamond Hill Capital Management Inc. acquired a new position in Acme United during the second quarter worth approximately $291,000. Ritholtz Wealth Management raised its stake in Acme United by 7.5% during the second quarter. Ritholtz Wealth Management now owns 10,341 shares of the company’s stock worth $363,000 after purchasing an additional 723 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Acme United by 9.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,958 shares of the company’s stock valued at $750,000 after buying an additional 1,338 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Acme United by 68.4% during the 2nd quarter. Marshall Wace LLP now owns 16,526 shares of the company’s stock worth $580,000 after buying an additional 6,713 shares during the last quarter. 62.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACU. StockNews.com upgraded Acme United from a “hold” rating to a “buy” rating in a research note on Saturday, July 20th. Singular Research raised shares of Acme United from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, July 24th.

About Acme United

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.