Acme United Co. (NYSE:ACU) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in Acme United Co. (NYSE:ACU - Free Report) by 59.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,165 shares of the company's stock after purchasing an additional 10,531 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.75% of Acme United worth $1,051,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ACU. HighTower Advisors LLC increased its stake in Acme United by 13.5% in the third quarter. HighTower Advisors LLC now owns 8,832 shares of the company's stock valued at $364,000 after purchasing an additional 1,048 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Acme United in the 3rd quarter valued at about $196,000. Finally, Barclays PLC acquired a new position in Acme United in the 3rd quarter valued at about $163,000. Hedge funds and other institutional investors own 62.10% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Acme United from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th.

Acme United Stock Performance

ACU traded up $1.33 during trading on Thursday, hitting $40.95. The stock had a trading volume of 11,465 shares, compared to its average volume of 15,314. Acme United Co. has a twelve month low of $32.85 and a twelve month high of $50.00. The firm has a market capitalization of $153.73 million, a P/E ratio of 8.37 and a beta of 0.70. 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's 50-day moving average price is $37.87 and its 200 day moving average price is $39.87.

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Acme United Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, March 26th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, March 26th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.47%. Acme United's dividend payout ratio (DPR) is presently 24.69%.

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.