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

StockNews.com cut shares of Acme United (NYSE:ACU) from a buy rating to a hold rating in a research note published on Monday morning.

Separately, Singular Research raised Acme United from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, July 24th.

Acme United Stock Performance

Shares of Acme United stock opened at $40.99 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.79 and a quick ratio of 1.77. The stock has a market capitalization of $150.11 million, a price-to-earnings ratio of 8.54 and a beta of 0.65. The business has a 50-day moving average of $42.22 and a 200 day moving average of $40.00. Acme United has a 12 month low of $28.03 and a 12 month high of $50.99.

Acme United (NYSE:ACU) last announced its quarterly earnings data on Friday, July 19th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. The firm had revenue of $55.43 million during the quarter, compared to analysts’ expectations of $56.50 million. Acme United had a net margin of 10.09% and a return on equity of 10.14%. As a group, sell-side analysts forecast that Acme United will post 2.78 earnings per share for the current year.

Acme United Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Friday, October 4th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, October 4th. Acme United’s dividend payout ratio is presently 12.50%.

Insider Buying and Selling

In other Acme United news, COO Brian S. Olschan sold 3,149 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $40.88, for a total transaction of $128,731.12. Following the completion of the transaction, the chief operating officer now owns 41,103 shares in the company, valued at $1,680,290.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 34.10% of the company’s stock.

Institutional Investors Weigh In On Acme United

Several institutional investors have recently modified their holdings of ACU. AE Wealth Management LLC purchased a new position in Acme United in the second quarter valued at $1,403,000. Acadian Asset Management LLC increased its holdings in shares of Acme United by 118.3% in the 2nd quarter. Acadian Asset Management LLC now owns 65,224 shares of the company’s stock valued at $2,285,000 after acquiring an additional 35,352 shares during the last quarter. American Century Companies Inc. raised its position in shares of Acme United by 53.9% during the 2nd quarter. American Century Companies Inc. now owns 47,933 shares of the company’s stock worth $1,681,000 after acquiring an additional 16,796 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Acme United by 71.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 26,755 shares of the company’s stock worth $1,257,000 after purchasing an additional 11,113 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Acme United by 8.1% in the first quarter. Vanguard Group Inc. now owns 142,858 shares of the company’s stock valued at $6,713,000 after purchasing an additional 10,675 shares in the last quarter. 62.10% of the stock is 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.