Nantahala Capital Management LLC Makes New Investment in Acme United Co. $ACU

Nantahala Capital Management LLC bought a new stake in Acme United Co. (NYSE:ACU) during the 2nd quarter, HoldingsChannel reports. The fund bought 20,427 shares of the company’s stock, valued at approximately $974,776.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE raised its stake in Acme United by 3,048.9% during the second quarter. Bank of America Corp DE now owns 1,480 shares of the company’s stock worth $61,000 after acquiring an additional 1,433 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Acme United in the 2nd quarter valued at approximately $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Acme United in the 2nd quarter valued at approximately $75,000. Raymond James Financial Inc. bought a new stake in shares of Acme United during the 2nd quarter valued at approximately $76,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Acme United during the 2nd quarter valued at approximately $104,000. 62.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Acme United news, COO Brian S. Olschan sold 7,308 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $61.48, for a total value of $449,295.84. Following the completion of the transaction, the chief operating officer owned 41,172 shares of the company’s stock, valued at $2,531,254.56. This represents a 15.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rex Lynn Davidson sold 3,684 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $56.48, for a total value of $208,072.32. Following the completion of the transaction, the director owned 6,228 shares of the company’s stock, valued at $351,757.44. This represents a 37.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 25,722 shares of company stock valued at $1,504,987 in the last 90 days. Corporate insiders own 29.50% of the company’s stock.

Acme United Stock Up 0.6%

Shares of NYSE:ACU opened at $63.06 on Friday. The company has a fifty day moving average of $53.60 and a 200-day moving average of $47.18. The company has a market capitalization of $240.26 million, a PE ratio of 12.90 and a beta of 0.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 4.41. Acme United Co. has a 52-week low of $35.50 and a 52-week high of $64.12.

Acme United Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd were given a dividend of $0.16 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. Acme United’s payout ratio is currently 26.89%.

Acme United Company Profile

Acme United Corporation is a diversified manufacturer and marketer of cutting, measuring and safety products designed for consumer, professional and industrial end markets. The company’s product portfolio spans shears, scissors, cutters, rulers, pencil sharpeners, first aid kits and medical products, as well as fishing knives, survival tools and related accessories. Acme United serves a wide range of end‐use channels, including office supply, school, hardware, mass merchandise and sporting goods retail.

Founded in the 19th century and headquartered in Shelton, Connecticut, Acme United operates through a collection of well‐established brands.