Acme United (NYSE:ACU) Releases Earnings Results, Misses Expectations By $0.19 EPS

Acme United (NYSE:ACU) announced its earnings results on Friday. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.19), reports. The company had revenue of $48.17 million for the quarter, compared to analysts’ expectations of $52.40 million. Acme United had a net margin of 10.09% and a return on equity of 10.14%.

Acme United Stock Down 2.3 %

Shares of NYSE:ACU traded down $0.96 during trading on Monday, reaching $40.24. 5,666 shares of the company traded hands, compared to its average volume of 20,682. Acme United has a 1-year low of $28.03 and a 1-year 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. The firm has a market cap of $147.36 million, a P/E ratio of 8.58 and a beta of 0.65. The firm has a fifty day simple moving average of $42.22 and a 200 day simple moving average of $40.00.

Acme United Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Friday, October 4th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. Acme United’s payout ratio is 12.50%.

Analysts Set New Price Targets

Several analysts have issued reports 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 raised shares of Acme United from a “hold” rating to a “buy” rating in a research report on Saturday, July 20th.

Insider Buying and Selling

In other Acme United 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 transaction, the chief operating officer now owns 41,103 shares in the company, valued at $1,680,290.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 34.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Acme United

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Acme United by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 142,858 shares of the company’s stock valued at $6,713,000 after acquiring an additional 10,675 shares during the last quarter. Renaissance Technologies LLC boosted its position in Acme United by 0.9% during the second 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. Acadian Asset Management LLC grew its holdings in Acme United by 118.3% during the second 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 last quarter. American Century Companies Inc. raised its position in shares of 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 purchasing an additional 16,796 shares during the period. Finally, AE Wealth Management LLC bought a new stake in shares of Acme United during the 2nd quarter worth $1,403,000. Institutional investors and hedge funds 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.