Acme United Co. (NYSEAMERICAN:ACU – Get Rating) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 6,200 shares, an increase of 8.8% from the September 30th total of 5,700 shares. Currently, 0.2% of the company's stock are short sold. Based on an average daily volume of 6,500 shares, the days-to-cover ratio is presently 1.0 days.
Analysts Set New Price Targets
ACU has been the subject of a number of analyst reports. TheStreet lowered shares of Acme United from a "b-" rating to a "c" rating in a research note on Friday, October 21st. StockNews.com lowered shares of Acme United from a "buy" rating to a "hold" rating in a research note on Tuesday, October 25th.
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Institutional Investors Weigh In On Acme United
A number of hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. bought a new position in Acme United during the second quarter valued at $205,000. State Street Corp grew its holdings in shares of Acme United by 16.6% in the first quarter. State Street Corp now owns 8,195 shares of the company's stock worth $278,000 after purchasing an additional 1,165 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Acme United by 17.6% in the first quarter. Diamond Hill Capital Management Inc. now owns 9,041 shares of the company's stock worth $305,000 after acquiring an additional 1,350 shares during the period. Acadian Asset Management LLC lifted its stake in Acme United by 7.5% in the first quarter. Acadian Asset Management LLC now owns 19,874 shares of the company's stock worth $669,000 after acquiring an additional 1,381 shares during the period. Finally, Bard Associates Inc. lifted its stake in Acme United by 2.8% in the second quarter. Bard Associates Inc. now owns 128,153 shares of the company's stock worth $4,059,000 after acquiring an additional 3,500 shares during the period. Hedge funds and other institutional investors own 61.15% of the company's stock.
Acme United Stock Up 3.5 %
NYSEAMERICAN:ACU traded up $0.81 during trading hours on Friday, hitting $24.27. 7,536 shares of the stock traded hands, compared to its average volume of 7,340. The company has a current ratio of 3.56, a quick ratio of 1.59 and a debt-to-equity ratio of 0.77. Acme United has a 1 year low of $21.11 and a 1 year high of $38.68. The stock has a market capitalization of $85.55 million, a P/E ratio of 15.66 and a beta of 0.93. The firm has a 50 day moving average of $28.49.
Acme United Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, October 24th. Investors of record on Monday, October 3rd were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Friday, September 30th. Acme United's payout ratio is 36.13%.
Acme United Company Profile
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Acme United Corporation supplies first aid and safety, cutting, sharpening, and measuring 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.
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