Acme United (NYSE:ACU) Lowered to “Hold” at StockNews.com

Acme United (NYSE:ACU) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Acme United Stock Up 0.7 %

Acme United stock opened at $34.84 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.90 and a current ratio of 4.51. The firm has a market capitalization of $127.51 million, a price-to-earnings ratio of 7.26 and a beta of 0.66. Acme United has a fifty-two week low of $24.28 and a fifty-two week high of $50.99. The stock’s fifty day moving average is $37.61 and its two-hundred day moving average is $42.20.

Acme United (NYSE:ACU) last posted its earnings results on Friday, April 19th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $44.96 million for the quarter, compared to analyst estimates of $48.50 million. Acme United had a return on equity of 9.60% and a net margin of 9.67%. Analysts predict that Acme United will post 2.53 EPS for the current fiscal year.

Insider Activity at Acme United

In related news, COO Brian S. Olschan sold 7,800 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $40.33, for a total transaction of $314,574.00. Following the sale, the chief operating officer now owns 41,103 shares of the company’s stock, valued at $1,657,683.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Brian S. Olschan sold 7,800 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $40.33, for a total transaction of $314,574.00. Following the sale, the chief operating officer now owns 41,103 shares of the company’s stock, valued at $1,657,683.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Brian S. Olschan sold 1,219 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $40.30, for a total value of $49,125.70. Following the sale, the chief operating officer now directly owns 41,103 shares in the company, valued at approximately $1,656,450.90. The disclosure for this sale can be found here. Insiders have sold a total of 15,905 shares of company stock valued at $658,194 over the last quarter. Insiders own 33.10% of the company’s stock.

Hedge Funds Weigh In On Acme United

Several large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its position in Acme United by 9.2% during the first quarter. Janney Montgomery Scott LLC now owns 15,958 shares of the company’s stock worth $750,000 after buying an additional 1,338 shares during the period. Evercore Wealth Management LLC purchased a new position in shares of Acme United in the 4th quarter worth about $219,000. Ritholtz Wealth Management purchased a new position in shares of Acme United in the 4th quarter worth about $223,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Acme United in the 3rd quarter worth about $277,000. Finally, Vanguard Group Inc. raised its holdings in shares of Acme United by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 142,858 shares of the company’s stock worth $6,713,000 after purchasing an additional 10,675 shares during the period. 62.10% of the stock is currently owned by hedge funds and other institutional investors.

Acme United Company 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.