Zacks Investment Research Downgrades Acme United (NYSEAMERICAN:ACU) to Hold

Zacks Investment Research lowered shares of Acme United (NYSEAMERICAN:ACU) from a buy rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

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, TheStreet raised Acme United from a c+ rating to a b- rating in a research report on Friday, May 24th.

Shares of ACU opened at $22.50 on Tuesday. Acme United has a 52 week low of $13.50 and a 52 week high of $23.00.

Acme United (NYSEAMERICAN:ACU) last issued its quarterly earnings results on Thursday, April 18th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The company had revenue of $31.37 million during the quarter, compared to the consensus estimate of $31.40 million.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 2nd will be given a $0.12 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.13%.

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Acme United by 12.9% in the 3rd quarter. Vanguard Group Inc. now owns 93,497 shares of the company’s stock worth $1,990,000 after acquiring an additional 10,700 shares during the last quarter. Capital Management Corp VA raised its holdings in Acme United by 8.6% in the 1st quarter. Capital Management Corp VA now owns 286,959 shares of the company’s stock worth $4,591,000 after acquiring an additional 22,837 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Acme United by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 146,680 shares of the company’s stock worth $2,090,000 after acquiring an additional 3,376 shares during the last quarter. Moors & Cabot Inc. raised its holdings in Acme United by 100.0% in the 1st quarter. Moors & Cabot Inc. now owns 34,398 shares of the company’s stock worth $548,000 after acquiring an additional 17,203 shares during the last quarter. Finally, Granite Investment Partners LLC raised its holdings in Acme United by 87.8% in the 1st quarter. Granite Investment Partners LLC now owns 24,303 shares of the company’s stock worth $389,000 after acquiring an additional 11,359 shares during the last quarter.

About Acme United

Acme United Corporation, together with its subsidiaries, supplies cutting, measuring, first aid, and sharpening products to the school, home, office, hardware, sporting good, and industrial markets in the United States, Canada, Europe, and Asia. It offers scissors, shears, rulers, pencil sharpeners, paper trimmers, lettering products, craft products, and safety cutters under the Westcott brand name; and cutting tools for hardware and industrial, lawn and garden, food processing, sewing, and housewares channels under the Clauss brand.

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