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

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

Acme United Stock Performance

Acme United stock opened at $37.00 on Tuesday. The firm’s fifty day moving average price is $36.92 and its 200-day moving average price is $40.12. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.91 and a current ratio of 4.41. The stock has a market cap of $138.42 million, a P/E ratio of 7.57 and a beta of 0.70. Acme United has a fifty-two week low of $32.85 and a fifty-two week high of $50.00.

Acme United Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, January 6th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, January 6th. Acme United’s dividend payout ratio (DPR) is currently 24.69%.

Institutional Trading of Acme United

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mink Brook Asset Management LLC purchased a new position in Acme United in the 4th quarter worth $9,766,000. Millennium Management LLC purchased a new position in Acme United in the 4th quarter worth $321,000. Citadel Advisors LLC raised its position in Acme United by 33.8% in the 4th quarter. Citadel Advisors LLC now owns 23,743 shares of the company’s stock worth $886,000 after purchasing an additional 5,999 shares during the period. 683 Capital Management LLC purchased a new position in Acme United in the 4th quarter worth $310,000. Finally, Jane Street Group LLC purchased a new position in Acme United in the 4th quarter worth $228,000. Hedge funds and other institutional investors own 62.10% of the company’s stock.

About Acme United

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.