Granite Investment Partners LLC Sells 18,819 Shares of Acme United Co. (ACU)
Granite Investment Partners LLC cut its stake in shares of Acme United Co. (NYSEMKT:ACU) by 25.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,893 shares of the company’s stock after selling 18,819 shares during the period. Granite Investment Partners LLC’s holdings in Acme United were worth $1,570,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Cubic Asset Management LLC boosted its position in shares of Acme United by 15.4% in the second quarter. Cubic Asset Management LLC now owns 17,950 shares of the company’s stock valued at $513,000 after buying an additional 2,400 shares in the last quarter. Spark Investment Management LLC boosted its position in Acme United by 58.0% in the second quarter. Spark Investment Management LLC now owns 11,481 shares of the company’s stock worth $328,000 after buying an additional 4,214 shares during the period. Dimensional Fund Advisors LP boosted its position in Acme United by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 115,056 shares of the company’s stock worth $3,233,000 after buying an additional 5,703 shares during the period. Renaissance Technologies LLC boosted its position in Acme United by 8.2% in the first quarter. Renaissance Technologies LLC now owns 118,600 shares of the company’s stock worth $3,322,000 after buying an additional 9,000 shares during the period. Finally, Royce & Associates LP boosted its position in Acme United by 19.6% in the first quarter. Royce & Associates LP now owns 79,265 shares of the company’s stock worth $2,227,000 after buying an additional 13,000 shares during the period.
Shares of Acme United Co. (NYSEMKT ACU) opened at 27.10 on Friday. The company’s 50-day moving average price is $27.85 and its 200-day moving average price is $26.93. The company has a market cap of $91.35 million, a price-to-earnings ratio of 17.95 and a beta of 0.53. Acme United Co. has a 12 month low of $19.29 and a 12 month high of $29.49.
Acme United (NYSEMKT:ACU) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.25. Acme United had a return on equity of 23.79% and a net margin of 7.33%. The business had revenue of $38.85 million during the quarter, compared to analysts’ expectations of $45.20 million. Analysts anticipate that Acme United Co. will post $1.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Thursday, July 20th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, July 18th. This is an increase from Acme United’s previous quarterly dividend of $0.10. Acme United’s dividend payout ratio (DPR) is 26.32%.
Separately, Zacks Investment Research cut Acme United from a “buy” rating to a “sell” rating in a report on Tuesday, April 25th.
In other Acme United news, CEO Walter C. Johnsen sold 6,350 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $27.71, for a total transaction of $175,958.50. Following the sale, the chief executive officer now owns 307,706 shares in the company, valued at $8,526,533.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Walter C. Johnsen sold 1,393 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $27.51, for a total value of $38,321.43. Following the sale, the chief executive officer now owns 306,899 shares in the company, valued at approximately $8,442,791.49. The disclosure for this sale can be found here. Insiders sold 11,890 shares of company stock worth $330,624 in the last quarter.
Acme United Company Profile
Acme United Corporation is a supplier of cutting, measuring, first aid and sharpening products to the school, home, office, hardware, sporting goods and industrial markets. The Company operates in three segments: United States (including Asian operations), Canada and Europe. Its operations in the United States, Canada and Europe are involved in product development, marketing, sales, administrative and distribution activities.
Want to see what other hedge funds are holding ACU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acme United Co. (NYSEMKT:ACU).
Receive News & Ratings for Acme United Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acme United Co. and related companies with MarketBeat.com's FREE daily email newsletter.