Envestnet Asset Management Inc. Buys 5,347 Shares of Acme United Co. (NYSE:ACU)

Envestnet Asset Management Inc. raised its stake in shares of Acme United Co. (NYSE:ACU) by 11.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 51,834 shares of the company’s stock after purchasing an additional 5,347 shares during the period. Envestnet Asset Management Inc. owned 1.38% of Acme United worth $2,053,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Millennium Management LLC purchased a new position in shares of Acme United in the fourth quarter valued at about $321,000. GAMMA Investing LLC purchased a new position in shares of Acme United in the first quarter valued at about $35,000. Jane Street Group LLC purchased a new position in shares of Acme United in the fourth quarter valued at about $228,000. Citadel Advisors LLC lifted its position in shares of Acme United by 33.8% in the fourth quarter. Citadel Advisors LLC now owns 23,743 shares of the company’s stock valued at $886,000 after acquiring an additional 5,999 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Acme United by 11.2% in the fourth quarter. Northern Trust Corp now owns 6,846 shares of the company’s stock valued at $256,000 after acquiring an additional 691 shares in the last quarter. Institutional investors own 62.10% of the company’s stock.

Insider Activity at Acme United

In related news, COO Brian S. Olschan sold 1,001 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $40.01, for a total value of $40,050.01. Following the sale, the chief operating officer directly owned 41,209 shares in the company, valued at approximately $1,648,772.09. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 34.10% of the company’s stock.

Acme United Price Performance

NYSE:ACU opened at $42.61 on Wednesday. The company has a current ratio of 4.41, a quick ratio of 1.91 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $161.53 million, a P/E ratio of 8.71 and a beta of 0.65. Acme United Co. has a 12 month low of $32.85 and a 12 month high of $46.00. The business’s 50-day moving average is $40.75 and its 200 day moving average is $39.25.

Acme United (NYSE:ACU) last posted its earnings results on Wednesday, July 23rd. The company reported $1.16 EPS for the quarter. Acme United had a return on equity of 9.70% and a net margin of 10.25%.

Acme United Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 3rd were given a $0.16 dividend. This is an increase from Acme United’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, July 3rd. Acme United’s payout ratio is currently 25.40%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Acme United from a “hold” rating to a “buy” rating in a research report on Friday, May 9th.

Acme United Profile

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.