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

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

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

Acme United Stock Performance

NYSE:ACU opened at $41.19 on Monday. The stock has a market cap of $150.84 million, a P/E ratio of 8.58 and a beta of 0.65. The company has a current ratio of 3.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average is $42.41 and its 200-day moving average is $39.94. Acme United has a 1-year low of $29.41 and a 1-year high of $50.99.

Acme United (NYSE:ACU) last posted its quarterly earnings data on Friday, October 18th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.19). The company had revenue of $48.17 million during the quarter, compared to analyst estimates of $52.40 million. Acme United had a return on equity of 10.14% and a net margin of 10.09%. Equities research analysts anticipate 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 was paid on Thursday, October 24th. Investors of record on Friday, October 4th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, October 4th. Acme United’s dividend payout ratio is currently 12.50%.

Hedge Funds Weigh In On Acme United

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ritholtz Wealth Management lifted its stake in Acme United by 8.9% in the third quarter. Ritholtz Wealth Management now owns 11,258 shares of the company’s stock valued at $469,000 after buying an additional 917 shares during the period. Marshall Wace LLP lifted its stake in Acme United by 68.4% in the second quarter. Marshall Wace LLP now owns 16,526 shares of the company’s stock valued at $580,000 after buying an additional 6,713 shares during the period. Sei Investments Co. acquired a new position in Acme United in the second quarter valued at approximately $209,000. AE Wealth Management LLC acquired a new position in Acme United in the second quarter valued at approximately $1,403,000. Finally, Renaissance Technologies LLC lifted its stake in Acme United by 0.9% in the second quarter. Renaissance Technologies LLC now owns 130,407 shares of the company’s stock valued at $4,573,000 after buying an additional 1,100 shares during the period. 62.10% of the stock is owned by institutional investors and hedge funds.

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.