Ridgewood Investments LLC Sells 300 Shares of Acme United Co. (NYSE:ACU)

Ridgewood Investments LLC reduced its stake in Acme United Co. (NYSE:ACU) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,435 shares of the company’s stock after selling 300 shares during the period. Ridgewood Investments LLC’s holdings in Acme United were worth $976,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Sei Investments Co. bought a new stake in Acme United during the second quarter valued at $209,000. Evercore Wealth Management LLC bought a new stake in shares of Acme United during the 4th quarter valued at about $219,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Acme United during the second quarter worth about $291,000. Ritholtz Wealth Management increased its position in shares of Acme United by 7.5% in 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 last quarter. Finally, Marshall Wace LLP raised its stake in Acme United by 68.4% in the second quarter. Marshall Wace LLP now owns 16,526 shares of the company’s stock valued at $580,000 after purchasing an additional 6,713 shares in the last quarter. 62.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Brian S. Olschan sold 3,149 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $40.88, for a total value of $128,731.12. Following the completion of the sale, the chief operating officer now owns 41,103 shares of the company’s stock, valued at approximately $1,680,290.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 34.10% of the company’s stock.

Acme United Price Performance

Shares of NYSE ACU traded up $0.86 during trading hours on Friday, reaching $42.12. 6,684 shares of the stock traded hands, compared to its average volume of 21,063. The company’s 50-day simple moving average is $41.93 and its two-hundred day simple moving average is $40.18. The company has a market capitalization of $154.24 million, a P/E ratio of 8.78 and a beta of 0.65. Acme United Co. has a 52-week low of $26.32 and a 52-week high of $50.99. The company has a quick ratio of 1.77, a current ratio of 3.79 and a debt-to-equity ratio of 0.35.

Acme United (NYSE:ACU) last posted its quarterly earnings results on Friday, July 19th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.94 by $0.15. Acme United had a net margin of 10.09% and a return on equity of 10.14%. The firm had revenue of $55.43 million for the quarter, compared to the consensus estimate of $56.50 million. Equities research analysts forecast that Acme United Co. will post 2.78 EPS for the current year.

Acme United Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Friday, October 4th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, October 4th. This represents a $0.60 annualized dividend and a yield of 1.42%. Acme United’s payout ratio is 12.50%.

Analysts Set New Price Targets

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

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.