Ritholtz Wealth Management Buys 917 Shares of Acme United Co. (NYSE:ACU)

Ritholtz Wealth Management grew its stake in Acme United Co. (NYSE:ACU) by 8.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,258 shares of the company’s stock after purchasing an additional 917 shares during the period. Ritholtz Wealth Management owned approximately 0.31% of Acme United worth $469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACU. Marshall Wace LLP boosted its stake in Acme United by 68.4% during the second quarter. Marshall Wace LLP now owns 16,526 shares of the company’s stock worth $580,000 after buying an additional 6,713 shares during the period. Sei Investments Co. purchased a new position in shares of Acme United during the 2nd quarter worth about $209,000. AE Wealth Management LLC bought a new position in Acme United during the 2nd quarter valued at about $1,403,000. Renaissance Technologies LLC raised its position in Acme United by 0.9% in the 2nd quarter. Renaissance Technologies LLC now owns 130,407 shares of the company’s stock worth $4,573,000 after purchasing an additional 1,100 shares during the period. Finally, Diamond Hill Capital Management Inc. bought a new stake in Acme United in the second quarter worth about $291,000. Hedge funds and other institutional investors own 62.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Singular Research upgraded Acme United from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded Acme United from a “hold” rating to a “buy” rating in a research note on Saturday, July 20th.

Acme United Price Performance

Shares of ACU stock opened at $44.45 on Thursday. The company has a market capitalization of $162.78 million, a P/E ratio of 9.26 and a beta of 0.65. The company’s 50-day simple moving average is $42.07 and its two-hundred day simple moving average is $40.10. Acme United Co. has a one year low of $27.21 and a one year high of $50.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.79 and a quick ratio of 1.77.

Acme United (NYSE:ACU) last announced its quarterly earnings data on Friday, July 19th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.15. Acme United had a return on equity of 10.14% and a net margin of 10.09%. The company had revenue of $55.43 million for the quarter, compared to analysts’ expectations of $56.50 million. As a group, equities analysts anticipate that Acme United Co. will post 2.78 EPS for the current year.

Acme United Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Friday, October 4th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, October 4th. Acme United’s dividend payout ratio (DPR) is presently 12.50%.

Insiders Place Their Bets

In other news, COO Brian S. Olschan sold 3,149 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were 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 in the company, valued at approximately $1,680,290.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 34.10% of the stock is owned by company insiders.

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.