Acme United (NYSE:ACU) Stock Price Down 1.4% – What’s Next?

Acme United Co. (NYSE:ACU)’s stock price fell 1.4% on Tuesday . The company traded as low as $43.15 and last traded at $43.56. 8,522 shares were traded during mid-day trading, a decline of 47% from the average session volume of 16,094 shares. The stock had previously closed at $44.18.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Acme United from a “buy” rating to a “hold” rating in a report on Monday, October 21st.

Acme United Stock Down 1.4 %

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 4.41. The company has a market cap of $162.91 million, a P/E ratio of 8.91 and a beta of 0.67. The stock has a 50 day moving average price of $41.98 and a 200 day moving average price of $39.95.

Acme United (NYSE:ACU) last issued its quarterly earnings results on Friday, October 18th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.19). The business had revenue of $48.17 million during the quarter, compared to analyst estimates of $52.40 million. Acme United had a net margin of 10.25% and a return on equity of 9.70%. Research analysts expect that Acme United Co. will post 2.78 earnings per share for the current fiscal year.

Acme United Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Friday, October 4th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.60 annualized dividend and a yield of 1.38%. Acme United’s dividend payout ratio (DPR) is 12.27%.

Institutional Investors Weigh In On Acme United

Several hedge funds have recently modified their holdings of the stock. American Century Companies Inc. lifted its position in shares of Acme United by 53.9% in the 2nd quarter. American Century Companies Inc. now owns 47,933 shares of the company’s stock valued at $1,681,000 after acquiring an additional 16,796 shares in the last quarter. Acadian Asset Management LLC raised its stake in Acme United by 118.3% during the 2nd quarter. Acadian Asset Management LLC now owns 65,224 shares of the company’s stock valued at $2,285,000 after purchasing an additional 35,352 shares during the period. AE Wealth Management LLC purchased a new stake in shares of Acme United in the second quarter valued at $1,403,000. Capital Management Corp VA boosted its position in shares of Acme United by 2.9% in the third quarter. Capital Management Corp VA now owns 553,838 shares of the company’s stock worth $23,062,000 after buying an additional 15,385 shares during the period. Finally, Sei Investments Co. purchased a new position in shares of Acme United during the second quarter valued at $209,000. 62.10% of the stock is owned by hedge funds and other institutional investors.

Acme United Company 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.