Acme United Co. (NYSE:ACU – Get Free Report) announced a quarterly dividend on Wednesday, September 20th, Wall Street Journal reports. Stockholders of record on Wednesday, October 4th will be paid a dividend of 0.14 per share on Tuesday, October 24th. This represents a $0.56 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, October 3rd.
Acme United has raised its dividend by an average of 4.0% per year over the last three years and has increased its dividend every year for the last 1 years. Acme United has a dividend payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings.
Acme United Price Performance
Shares of ACU opened at $29.89 on Monday. The company has a 50-day moving average price of $29.78. Acme United has a one year low of $21.11 and a one year high of $37.99. The company has a market cap of $106.71 million, a P/E ratio of 27.42 and a beta of 0.90. The company has a current ratio of 4.09, a quick ratio of 1.88 and a debt-to-equity ratio of 0.60.
Insiders Place Their Bets
In other news, COO Brian S. Olschan sold 3,930 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $26.49, for a total value of $104,105.70. Following the transaction, the chief operating officer now owns 41,103 shares in the company, valued at approximately $1,088,818.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Acme United news, COO Brian S. Olschan sold 3,930 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $26.49, for a total transaction of $104,105.70. Following the sale, the chief operating officer now owns 41,103 shares in the company, valued at $1,088,818.47. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Brian S. Olschan sold 7,070 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $29.14, for a total value of $206,019.80. Following the completion of the transaction, the chief operating officer now directly owns 41,103 shares in the company, valued at approximately $1,197,741.42. The disclosure for this sale can be found here. Corporate insiders own 34.10% of the company’s stock.
Institutional Trading of Acme United
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of Acme United by 9.4% during the second quarter. BlackRock Inc. now owns 6,192 shares of the company’s stock valued at $154,000 after acquiring an additional 531 shares in the last quarter. Geode Capital Management LLC raised its position in Acme United by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 32,331 shares of the company’s stock valued at $708,000 after purchasing an additional 564 shares in the last quarter. Vanguard Group Inc. raised its position in Acme United by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 124,350 shares of the company’s stock valued at $2,863,000 after purchasing an additional 844 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Acme United by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 179,910 shares of the company’s stock worth $4,487,000 after acquiring an additional 880 shares in the last quarter. Finally, State Street Corp increased its position in Acme United by 16.6% during the 1st quarter. State Street Corp now owns 8,195 shares of the company’s stock valued at $278,000 after buying an additional 1,165 shares in the last quarter. 61.68% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, StockNews.com assumed coverage on Acme United in a report on Thursday, August 17th. They set a “strong-buy” rating on the stock.
Read Our Latest Research Report on Acme United
Acme United Company Profile
Acme United Corporation supplies first aid and safety, cutting, sharpening, and measuring 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.
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