ValuEngine cut shares of Acme United Co. (NYSEMKT:ACU) from a buy rating to a hold rating in a research note issued to investors on Friday.
Separately, Zacks Investment Research downgraded Acme United from a hold rating to a strong sell rating in a research report on Wednesday, October 25th.
Acme United (ACU) opened at 23.093 on Friday. The company has a market cap of $77.85 million, a P/E ratio of 15.293 and a beta of 0.53. Acme United has a 12-month low of $20.62 and a 12-month high of $29.49. The firm’s 50-day moving average price is $24.39 and its 200-day moving average price is $26.55.
Acme United (NYSEMKT:ACU) last released its earnings results on Friday, October 20th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.20). Acme United had a return on equity of 9.63% and a net margin of 3.55%. The firm had revenue of $33.79 million for the quarter, compared to analyst estimates of $37.00 million. Analysts expect that Acme United will post $1.48 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Tuesday, October 3rd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Monday, October 2nd. Acme United’s dividend payout ratio (DPR) is presently 26.32%.
In other Acme United news, CEO Walter C. Johnsen sold 2,108 shares of Acme United stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $27.12, for a total transaction of $57,168.96. Following the sale, the chief executive officer now directly owns 307,610 shares of the company’s stock, valued at $8,342,383.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Walter C. Johnsen sold 2,104 shares of Acme United stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $27.12, for a total value of $57,060.48. Following the sale, the chief executive officer now directly owns 307,610 shares in the company, valued at $8,342,383.20. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP boosted its holdings in shares of Acme United by 63.8% in the 2nd quarter. Royce & Associates LP now owns 129,865 shares of the company’s stock worth $3,714,000 after acquiring an additional 50,600 shares in the last quarter. FMR LLC acquired a new position in shares of Acme United in the 2nd quarter worth approximately $815,000. Advisor Group Inc. acquired a new position in shares of Acme United in the 2nd quarter worth approximately $447,000. Neuberger Berman Group LLC acquired a new position in shares of Acme United in the 2nd quarter worth approximately $423,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Acme United by 15.9% in the 2nd quarter. Vanguard Group Inc. now owns 76,461 shares of the company’s stock worth $2,187,000 after acquiring an additional 10,498 shares in the last quarter.
Acme United Company Profile
Acme United Corporation is a supplier of cutting, measuring, first aid and sharpening products to the school, home, office, hardware, sporting goods and industrial markets. The Company operates in three segments: United States (including Asian operations), Canada and Europe. Its operations in the United States, Canada and Europe are involved in product development, marketing, sales, administrative and distribution activities.
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