Acme United Co. (ACU) Cut to “Hold” at ValuEngine

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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