Acme United (NYSEAMERICAN:ACU) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “ACME UNITED CORP. operates principally in two business segments. Operations in the medical segment involve the production and sale of metal disposable medical scissors and instruments, sterile procedure trays, germicidal products, dressings and wound care packs. Operations in the consumer segment involve the production and sale of shears, scissors, knives, rulers, first aid kits and chalk board items for school, office and home use. “
Separately, ValuEngine raised shares of Acme United from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd.
Acme United (NYSEAMERICAN:ACU) last issued its quarterly earnings results on Friday, October 20th. The company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.20). The company had revenue of $33.79 million during the quarter, compared to analysts’ expectations of $37.00 million. Acme United had a net margin of 3.56% and a return on equity of 9.64%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MPS Loria Financial Planners LLC acquired a new stake in shares of Acme United during the 2nd quarter worth approximately $144,000. Northern Trust Corp acquired a new stake in shares of Acme United during the 2nd quarter worth approximately $214,000. ZPR Investment Management increased its holdings in shares of Acme United by 0.4% during the 2nd quarter. ZPR Investment Management now owns 13,581 shares of the company’s stock worth $388,000 after buying an additional 54 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Acme United during the 2nd quarter worth approximately $423,000. Finally, Advisor Group Inc. acquired a new stake in shares of Acme United during the 2nd quarter worth approximately $447,000.
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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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