Acme United (NYSE:ACU) Stock Price Down 1.4% - Here's What Happened

Acme United Co. (NYSE:ACU - Get Free Report)'s stock price was down 1.4% on Tuesday . The stock traded as low as $43.15 and last traded at $43.56. Approximately 8,522 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 16,094 shares. The stock had previously closed at $44.18.

Wall Street Analyst Weigh In

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

Acme United Stock Up 1.7 %

The business's 50 day moving average is $42.02 and its 200-day moving average is $39.98. 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 stock has a market cap of $165.64 million, a price-to-earnings ratio of 8.91 and a beta of 0.67.

Acme United (NYSE:ACU - Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.19). The company had revenue of $48.17 million for the quarter, compared to analysts' expectations of $52.40 million. Acme United had a return on equity of 9.70% and a net margin of 10.25%. On average, sell-side analysts predict that Acme United Co. will post 2.78 EPS for the current fiscal year.

Acme United Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Friday, October 4th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, October 4th. Acme United's dividend payout ratio is presently 12.27%.

Institutional Investors Weigh In On Acme United

Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in Acme United by 53.9% in the second quarter. American Century Companies Inc. now owns 47,933 shares of the company's stock valued at $1,681,000 after buying an additional 16,796 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Acme United by 118.3% in the second quarter. Acadian Asset Management LLC now owns 65,224 shares of the company's stock valued at $2,285,000 after buying an additional 35,352 shares during the last quarter. AE Wealth Management LLC purchased a new stake in Acme United in the second quarter valued at approximately $1,403,000. Capital Management Corp VA lifted its stake in Acme United by 2.9% in the third quarter. Capital Management Corp VA now owns 553,838 shares of the company's stock valued at $23,062,000 after buying an additional 15,385 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in Acme United in the second quarter valued at approximately $209,000. Hedge funds and other institutional investors own 62.10% of the company's stock.

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.