StockNews.com Upgrades Acme United (NYSE:ACU) to “Buy”

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

Acme United Trading Down 1.9 %

Shares of NYSE ACU opened at $40.17 on Friday. The business’s 50 day moving average price is $37.93 and its 200-day moving average price is $39.83. Acme United has a fifty-two week low of $32.85 and a fifty-two week high of $50.00. 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 company has a market cap of $150.80 million, a price-to-earnings ratio of 8.21 and a beta of 0.70.

Acme United Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, March 26th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Wednesday, March 26th. Acme United’s payout ratio is presently 24.69%.

Institutional Investors Weigh In On Acme United

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its position in shares of Acme United by 25.0% during the fourth quarter. Royce & Associates LP now owns 169,664 shares of the company’s stock worth $6,334,000 after acquiring an additional 33,952 shares during the period. Capital Management Corp VA increased its holdings in Acme United by 2.9% during the 4th quarter. Capital Management Corp VA now owns 569,849 shares of the company’s stock worth $21,272,000 after purchasing an additional 16,011 shares during the period. Bank of New York Mellon Corp raised its position in Acme United by 59.7% during the 4th quarter. Bank of New York Mellon Corp now owns 28,165 shares of the company’s stock valued at $1,051,000 after purchasing an additional 10,531 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Acme United by 13.5% in the 3rd quarter. HighTower Advisors LLC now owns 8,832 shares of the company’s stock worth $364,000 after buying an additional 1,048 shares during the period. Finally, Barclays PLC bought a new position in shares of Acme United during the 3rd quarter worth $163,000. Institutional investors own 62.10% of the company’s stock.

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.